Right now, cannabis dispensaries are forced to operate in cash because of federal regulations. Arizona Attorney General Kris Mayes says that needs to change.
On Thursday, Mayes announced that she has joined a bipartisan coalition of AGs in calling on Congress to pass what’s called the SAFER Banking Act of 2025.
“The Safer Banking Act of 2025 would provide clarity for banks and other financial institutions to serve state-regulated cannabis businesses,” Mayes’s spokesperson Richie Taylor said.
The attorneys general say a cash-intensive environment makes employees and customers targets for violent crime, while undermining states’ ability to effectively regulate and tax these billion-dollar industries.
More Arizona Marijuana News
-
Phoenix has a reputation, fair or not, of a boom town where old buildings often get demolished. Hit songs were recorded in midtown decades ago. In the 1960s, that success led to construction of what was once the top studio between Dallas and LA. -
The National Institutes of Health says hospitalizations for marijuana in Arizona rose about 20% over five years as the state legalized recreational use. Now researchers in Colorado want to know if a cannabis compound can treat addiction. -
Under the initiative, possession of marijuana would still be legal, but it would target parts of the law that allow for licensed dispensaries and cannabis advertisement. -
President Donald Trump has ordered the reclassification of marijuana out of the most dangerous category of controlled substances. -
Having chronic pain can qualify you for Arizona’s medical marijuana program. But research led by UCLA says there’s a lack of evidence that cannabis treats chronic pain and most other conditions for which it may be prescribed.
