A new bill called the Secure and Fair Enforcement Regulation Banking Act has advanced in the Senate, aiming to provide banking services to the marijuana industry. The bill would offer legal protection to financial institutions that serve state-legal marijuana businesses, ending the reliance on cash transactions. The Senate Banking Committee voted 14-9 in favor of the bill, which is a bipartisan effort led by Senators Jeff Merkley, Steve Daines, Kyrsten Sinema, Cynthia Lummis, and Chuck Schumer. The bill faces potential challenges in the GOP-controlled House, but its passage would improve public safety and allow the industry to access traditional financial services.

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