How Does the Fed Die? By Reviving America's Cannabis Economy

ANy dolt who tells me that there is any sort of difference between hemp and 'pot' is a dolt so don't bother writing here. Same plant, different cultivars of the same plant.
Simple botanical nomenclature.

ANyhow as much as I do not like the State...this is a very good idea. Oust the Fed to allow for the funds to flow. North Dalota could prolly do the same already. But that is not this story.

QUOTE
SACRAMENTO, Calif. (May 23, 2019) – On Tuesday, the California Senate passed a bill that would establish limited state-chartered banks to serve the cannabis industry. Final passage of this legislation would remove a major federal roadblock in front of the developing industry in the state and further nullify federal prohibition in practice.



Sen. Bob Hertzberg, (D-Van Nuys), along with a bipartisan coalition of eight cosponsors, filed Senate Bill 51 (SB51) on Dec. 4. The legislation would create a self-contained banking system for the cannabis industry in California.

Because marijuana remains illegal under federal law, cannabis businesses in states that have legalized marijuana remain effectively locked out of the banking system. If a federally chartered or insured financial institution touches marijuana money, it takes on significant legal risk. The federal government insures or charters virtually every bank in the U.S. As a result, cannabis businesses have been forced to transact almost exclusively in cash. Passage of SB51 would completely bypass the federal banking system and create a limited banking alternative for the marijuana industry in California.

On May 21, the Senate passed SB51 by a 36-1 vote.
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Less then 50%

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