Essential US senator indicates panel could refuse to hear marijuana banking bill



The chair of a important U.S. Senate committee declined Tuesday to commit to contemplating legislation that would offer federal protections to monetary institutions serving state-legal cannabis firms, which is dubbed the Protected Banking Act.

Sen. Mike Crapo, a Republican from Idaho, produced the comments – as reported by Politico in a tweet – at a meeting of the Independent Neighborhood Bankers of America.

Crapo’s comments are not typically observed as a surprise provided that cannabis sector watchers have extended viewed the Republican-controlled Senate as the greatest hurdle for the measure, regardless of the reality that 5 Senate Republicans are now on board as cosponsors.

In late March, a Residence panel sophisticated the Safe And Fair Enforcement (Protected) Banking Act, which has 168 co-sponsors in the Democratic-controlled Residence, such as 18 Republicans. The measure is anticipated to get a complete Residence vote by June.


Categories: Cannabis Business &amp Marijuana Organization Briefs, Marijuana Legalization and Regulatory News for Cannabis Corporations, United States Cannabis Business &amp Marijuana Organization News


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