Coloradans know better than most that the legalization of marijuana has been a topic of contention and confusion in recent years. In 2012, Colorado and Washington became the first states to legalize marijuana for recreational purposes. Since then, the District of Columbia and nine additional states have legalized the recreational use of marijuana, and 33 states and D.C. have legalized marijuana for medicinal purposes. However, marijuana remains a Schedule I drug and is illegal under federal law. The reality is, Congress needs to have a vigorous debate about whether we should deschedule marijuana across the nation.

Last week, Congress took up the SAFE Banking Act, which gives marijuana-related businesses access to a federally-regulated banking system. I fully agree that we must ensure that legal businesses are not operating on a cash-only basis while engaged in billions of dollars’ worth of transactions. However, in its current form, this bill will open up our banking system to abuse from drug cartels, as well as illegal growers and distributors. It will also allow Schedule I drugs to cross state lines.