After months of telling the public that they were working on a federal cannabis bill, Senate Majority Leader Chuck Schumer, the Finance Chairman Ron Wyden, and Senator Cory Booker have unveiled their legislation for public comments. However, before Congress has the chance to look at and advance the Cannabis Administration and Opportunity Act, a Congressman would like lawmakers to pass a cannabis banking bill. Rep. Ed Perlmutter, who introduced a bill that would protect banking institutions which work with businesses in the cannabis space, has urged lawmakers to pass the legislation while lawmakers consider broader cannabis reform.
Despite being allowed in more than two dozen states, cannabis is still considered a Schedule I drug by federal law. Consequently, cannabis businesses have been locked out of a variety of…
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