Amid a wave of robberies targeting cannabis retailers, legislators in Olympia are working on a bill they believe will help better protect the cannabis industry and those who work within it.
Senate Bill 5927, titled "Concerning the safety and security of retail cannabis outlets," would require all licenced cannabis retailers to report any robbery or attempted robbery to the state's Liquor and Cannabis Board within 10 days and change the state's sentencing laws to allow increased penalties for those found guilty of robbing cannabis retailers. It is similar to existing laws that prescribe increased sentences for those who are found guilty of robbing a licensed pharmacy.
The bill passed the Senate earlier this month with a unanimous 49-0 vote in favor. It is currently working its way through the House, where the Committee on Public Safety is scheduled to take it up this week.
In January, Seattle's KING-TV reported there had been more than 30 incidents of violent robberies and other crimes at cannabis retailers in Washington since November. Unlike other retail businesses, cannabis retailers are particularly vulnerable to these kinds of crimes due in large part to the complex patchwork of laws and regulations surrounding the cannabis industry in the United States. Because cannabis remains illegal at the federal level, many financial institutions are wary of getting involved with the industry even where it operates legally under state law. As a result, cannabis retailers operate largely on a cash-only basis.
This problem is well known at the federal level, where a solution is on the table and has broad, bipartisan support. The Secure and Fair Enforcement (SAFE) Act, better known as the SAFE Banking Act, has been bouncing around the halls of Congress since 2019. It would prohibit regulators from penalizing financial institutions for working with legitimate cannabis businesses, thereby lessening the industry's reliance on cash as the dominant method of financial transactions.
Despite strong support from both sides of the aisle, and having been passed by the U.S. House on multiple occasions, the SAFE Banking Act has yet to make it through Congress. Some on the left feel it doesn't go far enough, while some on the right feel it goes too far.
Until those two sides — who, again, largely support the legislation — can reach a compromise on a proactive approach to the issue, cannabis businesses will continue to be easy targets for criminals. And individual states, like Washington, will be forced to address these issues reactively. ♦
