A key U.S. House committee voted Thursday to open up banking to cannabis businesses, “the most significant step we’ve seen so far toward addressing our outdated federal marijuana policies,” according to Rep. Earl Blumenauer, a Portland Democrat and congressional leader on cannabis reform.

The SAFE Banking Act of 2019 would protect financial institutions from federal regulatory restrictions that have kept most banks from serving state-legal cannabis businesses. As it is, businesses overwhelmingly deal in cash, heightening the risk of illicit activity and stifling growth.

Read the full article by Pete Danko and Jessica Bartlett from Boston Business Journal here.