Tennessee, Virginia Lawmakers Push For Cannabis Reform, Congressional Researchers Highlight Perils Of Cash-Only Transactions & More
A report published by the Congressional Research Service (CRS) has highlighted the challenges faced by licensed cannabis businesses operating without access to traditional banking services. Without banking access, such businesses face higher borrowing costs and must rely on cash transactions, making them vulnerable to theft. The CRS has proposed legislation to address these issues, the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which is currently pending a floor vote. In other news, Palm Springs City Council has extended its temporary moratorium on new cannabis dispensary permits for four years. The California city currently has 26 operational dispensaries, with eight authorized but not yet functioning and another awaiting approval. The Colorado Tourism Office has updated its promotional material to include cannabis events. A pot-friendly party bus has been contacted by the office to discuss the possibility of being added to the list of things to do in the state.
