Since today is 420 (a day for cannabis enthusiasts) we thought it would be fitting to share some good news! On the eve of 420, the House of Representatives voted for the SAFE Banking Act of 2021 and passed! So what does this mean?
This bill will now allow financial institutions along with banks to work with legal cannabis businesses. As the cannabis industry continues to grow, a major problem throughout is where businesses can deposit money since cannabis is still illegal federally. Now the House of Representatives have opened a door to help the cannabis industry grow further.