Senator Gardner has stated the SAFE Banking Act, which aims to guarantee a safe harbor for banks that offer marijuana dispensary funding. This will help in generating up to $2 billion to the financial kitty from the state-legal marijuana industry in Colorado.
Due to the designation of cannabis as Schedule 1 drug, many financial companies are now hesitant to create bank accounts to support the fast-growing industry. And because of this reluctance, the marijuana businesses have been forced to operate only on cash, which is inconveniencing.
Senator Gardner noted that the Congress had pushed this idea aside by their hands, while drawing it nearer with their foot, causing uncertainties to pile up for a ton of promising businesses.
Sen. Gardner also added that they had gone great guns with the SAFE Banking Act. He gave an assurance stating that they are already working hand in hand … Read More