House Committee Approves Marijuana Protections For Banking And D.C.
Marijuana Stocks, Finance, & InvestingUncategorized June 25, 2021 MJ Shareholders
A House subcommittee on Thursday approved a large-scale funding bill that includes provisions protecting banks from being punished for working with marijuana businesses and allowing Washington, D.C. to legalize cannabis sales.
The move by congressional Democrats to let the District of Columbia set its own marijuana policies is in contrast with a budget released last month by President Joe Biden, which proposed continuing the longstanding Republican-led rider that has prevented the city from spending its own money to regulate adult-use cannabis commerce.
The banking-related provision is less far-reaching than more robust standalone bills the House has passed on four occasions, but would still provide some protections to banks that work with state-legal marijuana operators.
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