Governor of Colorado Pens Letter Urging Legitimate Cannabis Banking

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As Democrats in Congress appear eager to finally tackle comprehensive marijuana reform, Colorado Governor Jared Polis hopes they address one particular cannabis policy first. Not only are cash-only businesses targets for crime, cannabis businesses are further disadvantaged compared to other legal businesses by being unable to open bank accounts or obtain loans at reasonable rates.” Polis continued to explain that it’s harmful for an industry as successful and large as cannabis industry to be forbidden from legitimate banking institutions. I want to make my arguments to him, as many other advocates will. The bill was introduced in draft form by the three Democratic senators last month. But at some point we’re going to move forward, period.”

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As Democrats in Congress appear eager to finally tackle comprehensive marijuana reform, Colorado Governor Jared Polis hopes they address one particular cannabis policy first.

In a letter to a trio of Democratic senators on Friday, Polis urged them to pursue legislation implementing new banking and taxation measures that would enable financial institutions to work with cannabis businesses.

“I am thrilled that you are bringing forward a long-term, comprehensive solution that deschedules cannabis while enhancing social equity pathways,” wrote Polis, a Democrat...

Read the full article @ High Times