Marijuana banking amendment dies in U.S. House

Colorado’s marijuana shops will have to continue accepting only cash for grass after a budget amendment was killed by Republicans in the U.S. House of Representatives this week.

The Denver Post reports that the amendment “would have prevented federal regulators from penalizing financial institutions that worked with legitimate marijuana businesses.” Advocates of the legal marijuana industry have argued that making banks accessible to their businesses is a necessary step in legitimizing the industry and decreasing the amount of crime attracted to the cash-only pot shops.