Attorney General Dave Sunday has joined a coalition of state AG’s supporting federal cannabis banking reform.
The coalition is calling for congress to pass the SAFER Banking Act, which would provide legal clarity for states ability to collect taxes and conduct regulatory oversight.
39 states, including Pennsylvania, sell medical marijuana while 21 states collect tax revenue.
By lifting a ban on cannabis related funds moving from legal cannabis businesses into the banking system it will allow for more transparency with state regulators and law enforcement.
The bill would not legalize cannabis but instead help protect businesses and better ensure regulations are being followed.