Marijuana is STILL listed as a ‘dangerous’ drug on the Federal Level…
That means that banks handling marijuana business money CAN be in trouble with the Feds even if a state might have decriminalised the use and sale of cannabis….
It appears that Senator Mitch McConnell is about the sole person blocking this right now….
Marijuana advocates and executives are up in arms after opposition from Senate GOP Leader Mitch McConnell (Ky.) resulted in Congress failing to pass a key cannabis banking bill, dealing a massive blow to the industry.
The $1.7 trillion omnibus spending bill unveiled Tuesday includes all kinds of expenditures, but it does not include the SAFE Banking Act, a bipartisan measure that would undo federal restrictions that make it difficult for legal cannabis businesses to access financial services….
…
It passed the House seven times — receiving a whopping 321 votes last year — and had enough GOP support to reach 60 votes in the Senate.
But it did not have the support of McConnell, whose opposition kept it out of the spending bill.
McConnell first blocked the SAFE Banking Act’s inclusion in the defense bill earlier this month, arguing that it would make the U.S. financial system “more sympathetic to illegal drugs.”
It now faces an even steeper climb to become law in the next Congress, with Republicans taking over the House….