‘Twas the night before 4/20 and all through the House, every creature was debating… to pass the SAFE banking act in a 321-101 vote.
It’s an historic moment for the deeply politically divided US. Democrats voted unanimously to pass the bill, while about half of Republicans voted for it, reports Marijuana Moment (who took the opportunity to call out Marijuana Business Daily’s report prior to passage)
SAFEty first
The SAFE Banking Act is designed to liberate the industry from cash and make it easier for businesses to work with banks. It’s also meant to prevent white collar and violent crime that sometimes stem from said cash-based businesses.
“This will improve transparency and accountability, and help law enforcement root out illegal transactions to prevent tax evasion, money laundering and other white collar crime,” Colorado Rep. Ed Perlmutter said during the debates. “But most importantly, this will reduce the risk of violent crime in our communities.”
What’s next
Even if it feels a little like a corny 4/20 stunt (after all, this marks the fourth time the SAFE Banking Act has made its way through the House), political analysts think it could now actually make its way through Democratic-controlled Senate and get sign-off from the President.
We’ll take it!
