Marijuana dispensaries praise SAFER Banking Act moving to Senate floor

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The landmark decision means dispensaries are one step closer to not have to operate exclusively with cash.

DENVER — A plan to change the way the marijuana industry handles money finally moved forward on Capitol Hill, after about a decade with no progress.

“I want to run like a regular business. I want to be a restaurant or a smoke shop down the street or anybody else,” said Clif Gordon at “We hire employees, we pay employees, we order product in, we sell product out the door, just like anybody else,” Gordon said. “It was designed to allow banks to provide legitimate banking services to legitimate businesses in those states,” Perlmutter said. “Credit cards, deposit accounts, payroll accounts, those kinds of things, so we don't have this big giant pile of cash that then attracts crime.”said operating exclusively in cash puts a target on people's backs.

 

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