When businesses are forced to operate on a cash-only basis, public safety threats rise. It makes marijuana and marijuana-related businesses vulnerable to robbery, assault and organized crime;  their vendors, employees and customers are vulnerable as well. Today, thousands of licensed and regulated businesses do not have access to the banking system and are unable to accept credit or debit cards, deposit receipts, or write checks to meet payroll or pay taxes. Link to article

The SAFE Banking Act, would increase public safety by ensuring access to financial services to legitimate cannabis-related businesses and service providers thereby reducing the amount of cash at such businesses.  

Voters in the majority of states have voted to allow some form of marijuana decriminalization in their state. Currently medical Marijuana is legal in 25 US states – Alaska, Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Washington and the District of Columbia.

There are 10 states (Alaska, Arizona, California, Colorado, Maine, Massachusetts, Michigan, Nevada, Oregon, Vermont, Washington and the District of Columbia) that legalized recreational use.

With the increase of Americans supporting the use of cannabis, we believe Congress should support the SAFE Banking Act.

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