A bill was passed by the Senate this week which will allow licensed pot shops to open and use savings and checking accounts in their large transactions rather than using cash like they are currently required to. The bill was brought forward by Senator Robert Hertzberg, D-Van Nuys, and is now on its way to the Assembly.

Assuming that the bill goes all the way through, the Department of Business Oversight will be in charge of creating banks and credit unions specifically for dispensaries. This would allow a huge boost in security for these companies, as well as a far more streamlined way of doing business. Currently, marijuana is considered a Schedule 1 drug, so dispensaries need to be careful when operating with anything but cash to avoid money laundering charges. This new opportunity for marijuana dispensaries would make life easier and safer for everybody involved. If you would like to learn more about the bill and what it offers, check out the official bill text here.

Related: Where to Buy Weed in the SF Bay Area