While Pennsylvania may have instituted its own SAFE Banking Act, most states have not, leaving many cannabis workers still in danger.
Each year, hundreds of thousands of Pennsylvania patients must receive approval from a physician if they want to legally use cannabis in the state.As the end of 2022 approaches, communities across the nation are still contending with the drastic increased rise of crime due to the COVID-19 pandemic. According to the FBI’s 2021 crime data report, crime rates remain above pre-pandemic levels.
We currently have a banking system that puts cannabis owners and workers at risk by denying them access to basic financial institutions and services. The failure of government to allow shop owners to utilize banking mechanisms forces owners to rely on large amounts of cash, leaving them susceptible to theft, fraud, and violent crime.
Unfortunately, the act currently remains stalled in the Senate, even with bipartisan support. The e act includes protections for cannabis workers by updating an archaic banking system. Legislators need only look to Pennsylvania to see how effective such a measure would be. Pennsylvania’s House Bill 331 is a signal to federal legislators of how effective legislation can prevent crime and improve public safety by empowering an industry and its workers.
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