Federal Legalization News | SAFE Banking Act Re-introduced Again
The #SAFE Banking Act is a bipartisan bill recently introduced in #Congress that seeks to provide protections for financial institutions that take on cannabis-related businesses as clients. If passed, the act would prevent federal regulators from taking punitive action against banks and other financial providers who work with marijuana-related businesses.
Federal #Legalization News | SAFE Banking Act Re-introduced Again
Representatives Dave Joyce of Ohio and Alexandria Ocasio-Cortez of New York have reintroduced the Harnessing Opportunities by Pursuing #expungement (HOPE) Act, a bipartisan bill that would support states in expunging convictions for past cannabis offenses. The #HOPEAct looks to provide federal grants to help offset the financial and administrative burdens associated with expungement.
If passed, it would be an important step forward in ensuring that those who have been convicted of minor #marijuananews offenses are not held back from accessing educational opportunities or employment based on their records. This bill is supported by both Democrats and Republicans, making it a promising step towards justice reform.
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This could help bring much needed stability and security to an industry that has been largely relegated to the cash-only system due to legal grey areas around marijuana use. The bill is backed by both Democrats and Republicans alike, signaling a shift in the conversation surrounding cannabis regulation. Additionally, it provides a much needed opportunity for small business owners in the emerging cannabis industry to access banking services, creating an environment where their businesses can grow and thrive.
The bill is in its early stages, but it gives hope to those who have been looking for a more secure and regulated way to operate their businesses. With this proposed legislation, the cannabis industry will finally be able to take advantage of banking services that are already available to other markets. This could open up new opportunities for entrepreneurs that would otherwise
