Bipartisan Cannabis Banking Bill Introduced in U.S. Senate

By Darby Beck, Law Enforcement Against Prohibition

money2WASHINGTON, DC – Senators Jeff Merkley (D-OR), Cory Gardner (R-CO), Michael Bennet (D-CO), Rand Paul (R-KY), and Ron Wyden (D-OR) introduced the Ma lmrijuana Business Access to Banking Act today in a much-needed move to allow legitimate marijuana businesses to conduct legal financial operations.

While the move sounds like a minor regulatory matter, the lack of clear financial guidelines represents the single greatest obstacle to state-legal marijuana businesses operating safely and profitably. Currently, dispensaries and other businesses in states that have legalized medical marijuana or that allow adult use must operate cash-only businesses because banking services fall under federal, rather than state law.

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Bipartisan Legislation to Legalize Medical Use of Low-THC Cannabis Introduced in U.S. Senate

Bipartisan legislation to exempt low-THC cannabis from the United States list of controlled substances when being used to treat seizure disorders such as epilepsy.WTCannabis has been filed in the United States Senate The bill  – titled the Therapeutic Hemp Medical Access Act of 2015 – was filed by Senators Cory Gardner (R-CO) and Ron Wyden (D-OR), along with co-sponsors Johnny Isakson (R-GA), Jeff Merkley (D-OR), Orrin Hatch (R-UT), and Michael Bennet (D-CO).

“This bill would provide children and adults alike with access to medicine they need to treat life-threatening conditions,” Senator Gardner said in a Wednesday press release. “Colorado has become a haven for people in need and parents desperate to pursue treatment for their children. Making this medicine available nationwide is the right thing to do, and would help families cope with these serious illnesses.”

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