Key US senator opposes marijuana banking bill

U.S. Sen. Mike Crapo, the chair of a key U.S. Senate committee, struck a blow against a crucial banking bill for the cannabis industry.

The Republican said in a statement that he opposes a U.S. House-passed bipartisan bill to give banks and credit unions legal cover to serve cannabis firms.

However, he is open to amending the measure to satisfy his concerns with the Secure And Fair Enforcement (SAFE) Banking Act, The Hill reported.