US House Clears Cannibis Banking Bill, Dutch Gold to Upgrade Finance420.com Site
) /IHNW/ today announced that it has plans to upgrade www.Finance420.com in light of recent legislation passed by the US House of Representatives.
On June 16, 2014, The U.S. House of Representatives has passed an amendment to prevent the federal government from penalizing financial institutions that do businesses with the marijuana industry. The Senate must now pass similar legislation for the amendment to become law, which could represent a significant hurdle.
But industry leaders and advocates were quick to hail the House vote as a huge victory regardless, saying it signals growing support among federal lawmakers for the cannabis industry. The amendment – which had bipartisan support – passed by a vote of 231 to 192.
The House also backed the marijuana industry in another way on the same day, rejecting an attempt to block the implementation of key banking guidance issued earlier this year by the U.S. Justice and Treasury Departments. The guidance provides financial institutions with a framework for doing business with cannabis companies. While the guidance hasn’t eased the banking situation for the marijuana industry yet, it is seen as a significant step in the right direction.
Due to these additional legislative developments, DGRI has elected to make significant enhancements to its www.Finance420.com digital property, which it intends to release on prior to the end of July 2014. Said Daniel Hollis, CEO of the Company, “We have been cautious in our approach to providing financial assistance to the MMJ sector. We are pleased to witness the development of further legislative support and look forward to broadening our offerings.”