The Republican vice chair of the House Financial Services Committee says he would support a hybrid marijuana banking and cryptocurrency regulation bill, saying “our country will benefit” if both reforms are enacted.
In an interview with Bloomberg, Rep. French Hill (R-AR) was asked to weigh in on ongoing talks about merging the Secure and Fair Enforcement (SAFE) Banking Act and the cryptocurrency legislation.
“I would vote for if it were coupled. I have supported the SAFE Banking Act for nine years in Congress now, which would allow cannabis dealers in states where it’s legal to have access to the banking system,” Hill, who’s twice voted for the cannabis legislation on the House floor, said. “I think it’s a lot easier to catch bad actors and illegal activity if those companies are participating in the banking system.”
“If someone’s trying to take advantage of legal cannabis in an illegal way, it’s a lot better to have those companies participating in the banking system,” he said, adding that he agrees with recent remarks from the committee’s ranking member, Rep. Maxine Waters (D-CA), that legislation is close to being finalized.
Hill was also asked about the prospect of including the reforms in a
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