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Transcripts For CSPAN3 Senate Banking Hearing On Banking Challenges For Cannabis Store Owners 20240713

Witnesses. Today the committee will hear from witnesses about the challenges that state stanksed businesses in the cannabis owners have when attempting to under the controlled substance act, its considered a schedule one drug. Being categorized as a schedule one means that the possession, distribution or sale of marijuana or other marijuana derived products is illegal under federal law and any proceeds from cannabis related activities remain subject to antiMoney Laundering laws. In the last several years many states have used valid initiatives or referendums that have legalized marijuana in some form, whether for recreational or medical use. Currently there are 11 states plus the district of columbia where it is legal to buy and consume recreational and medical marijuana adds well. And there are 22 states plus d. C. That have approvedmedcal marijuana totaling 33 states in all that have some form of
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J.D. Vance Moves to Protect Crypto Companies, Energy, Firearms Companies from Bank Regulators

Sen. J.D. Vance introduced legislation that would seek to protect vulnerable industries from overly burdensome banking regulators. ....

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