The 116th U.S. Congress is inching its way toward banking reform for legitimate cannabis businesses, but the landmark H.R. 1595 bill still has an uphill battle in its future. While 11 states have legalized recreational cannabis and 33 states have medical marijuana laws on the books, marijuana businesses have struggled to find access to the banking system. Much of the cannabis industry is relegated to cash-heavy operations, which can’t be effectively taxed or regulated. Cash-based operations are vulnerable to theft, laundering, and other illicit acts. The Secure and Fair Enforcement (SAFE) Banking Act of 2019 has seen surprising interest by […]

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