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A marijuana leaf is shown at Canna Pi medical marijuana dispensary in Seattle, Washington, November 27, 2012. REUTERS/Anthony Bolante, The U.S.  Solution Can Be Seen Here  on Monday passed legislation that would permit banks to provide services to marijuana business in states where it is legal, a step towards eliminating what experts say is a barrier to advancement of a national market. Lawmakers voted 321-101 to authorize the costs and send it to the Senate. The bill clarifies that proceeds from genuine cannabis services would not be considered prohibited and directs federal regulators to craft guidelines for how they would monitor such banking activity.

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That has left business in the marijuana market with couple of alternatives, including relying on just a handful of small financial organizations or doing company in cash. The American Bankers Association has actually lobbied aggressively for the "SAFE Banking Act" expense." Banks find themselves in a tight spot due to the dispute between state and federal law, with regional neighborhoods motivating them to bank marijuana companies and federal law forbiding it," the group composed in a letter to legislators on Monday. "Congress needs to act to resolve this conflict." Thirty-six states have legislated medical marijuana while 17 states now permit adult use, according to the National Conference of State Legislatures.

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Asked about the SAFE Banking Act, he said he wants to see such an expense progress as part of a more extensive step - even if President Joe Biden was not supportive. Our Standards: The Thomson Reuters Trust Concepts..

Science & Health3 months ago Increasing access to marijuana dispensaries is associated with a substantial decrease in opioid-related deaths, according to a brand-new study. "Higher ...

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