Steve Daines urges banks to promote marijuana banking bill

A co-sponsor of the Secure and Fair Enforcement SAFE Banking Act and a member of the Senate Banking Committee urged banks to organize a group of lobbyists to promote the passage of the marijuana banking bill in the current Congress, as well as a co-sponsor of the Secure and Fair Enforcement SAFE Banking Act.

Steve Daines R-MT, who is working with Senate Majority Leader Chuck Schumer D-NY and other lawmakers to advance SAFE, said the cannabis banking act has the potential to pass in the Senate through the regular order and that there is a chance for it to pass, according to Marijuana Moment.

As the situation gets worse, it is important to acknowledge that this is a public safety issue. The longer it takes to address the problem, the more difficult it will be to handle the situation, Daines said.

He stated that the bill is not about whether people support legalization of marijuana but rather about addressing a problem that's impacting the financial service and legal cannabis businesses and other ancillary industries.

Daines expressed his gratitude for the bankers' support and suggested that their assistance could potentially help promote the passage of the bill on Capitol Hill, per an ABA press release.

Daines believes education is the key to promoting the passage of the cannabis banking bill. He urged the audience to reach out to their fellow members of Congress to connect the dots in their state. This is called the SAFE Banking bill. He said it was not about cannabis. It is about safety and trying to reduce crime that is exploding in our communities as a result of too much cash. The Benzinga Cannabis Capital Conference is the most successful cannabis business event in the world, taking place on April 11 - 12 at the Fontainebleau Miami Beach Hotel in Florida. This is the place where money is raised, M&A start, and companies meet key partners. Image Credits: S.Borisov and OpenRangeStock on Shutterstock Edited by Benzinga