Senator Patty Murray announces support for Banking legislation to save Washington pot shops

Sen. Patty Murray announced her support of the Secure and Fair Enforcement Regulation Banking Act to save Washington State pot shops.

Sen. Murray hopes the legislation will ensure that pot shops have access to the traditional banking system used by other American businesses according to a Wednesday press release. Currently, pot shops do not have access to the traditional systems because banks are worried that they could be prosecuted due to the federal restrictions on cannabis.smash-and-grab robberies“It’s ridiculous that legal cannabis businesses in Washington state are forced to operate entirely in cash—and it puts the safety of their employees and our neighborhoods at risk,” said Senator Murray.

The new legislation would ensure that sanctioned cannabis businesses have full access to insurance, bank accounts, and other financial services. The legislation would stop regulation from discouraging banks from providing financial services to legitimate pot shops.More information about the SAFER Banking Act is available

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