The SAFE Banking Act has passed through the House of Representative with a bipartisan vote of 321-101.
This legislation would allow credit unions and banks to work with cannabis companies without running the risk of committing a federal offense.
Now, the bill needs to be approved by the Senate, which is controlled by a very slim margin by the Democrats. After that, the bill will land on President Biden's desk to be signed.
“I hope this bill is an icebreaker for the House to take up other reforms and finally remove the conflict between state and federal laws,” said Rep. Ed Perlmutter.