California Senate Passes Revolutionary Bill to Bypass Federal Reserve, Create Cannabis Banking Industry

California Senate Passes Revolutionary Bill to Bypass Federal Reserve, Create Cannabis Banking Industry

In January, Sen. Bob Hertzberg, (D-Van Nuys), along with a bipartisan coalition of nine cosponsors, introduced Senate Bill 930 (SB930) which would create a self-contained banking industry solely for the cannabis industry inside the state of California. Last week, the California Senate passed the bill. If the bill makes it through final approval, the implications are revolutionary and would aid in further nullifying the federal prohibition of cannabis.