NetworkNewsBreaks – Sugarmade Inc. (SGMD) Poised
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Posted On: 04/26/2019 4:51:55 PM
NetworkNewsBreaks – Sugarmade Inc. (SGMD) Poised to Profit after Passing of Legislation
Sugarmade (OTCQB: SGMD), a major supplier to the growing hydroponic cultivation sector, is expected to profit from cannabis banking legislation if it is approved by Congress. A recent article discussing the legislation reads, “The lack of banking services has led the cannabis enterprises to transact finances, including corporate taxes, in sometimes large sums of cash that can’t be legally mailed and have to be carried to their destinations, creating fears of heightened criminal vulnerability as the cash is moved. However, the new Congressional measures would block federal agencies from being able to ‘prohibit, penalize, or otherwise discourage a depository institution from providing financial services to a cannabis-related legitimate business or service provider or to a State, political subdivision of a State, or Indian Tribe that exercises jurisdiction over cannabis-related legitimate businesses,’ if the bills are approved (http://nnw.fm/Y6CgP). . . . Such a law would allow growers to establish secured lines of credit, use electronic cards and become better business partners — all without having to worry about safeguarding cash transfers with every company with which they do business.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Sugarmade (OTCQB: SGMD), a major supplier to the growing hydroponic cultivation sector, is expected to profit from cannabis banking legislation if it is approved by Congress. A recent article discussing the legislation reads, “The lack of banking services has led the cannabis enterprises to transact finances, including corporate taxes, in sometimes large sums of cash that can’t be legally mailed and have to be carried to their destinations, creating fears of heightened criminal vulnerability as the cash is moved. However, the new Congressional measures would block federal agencies from being able to ‘prohibit, penalize, or otherwise discourage a depository institution from providing financial services to a cannabis-related legitimate business or service provider or to a State, political subdivision of a State, or Indian Tribe that exercises jurisdiction over cannabis-related legitimate businesses,’ if the bills are approved (http://nnw.fm/Y6CgP). . . . Such a law would allow growers to establish secured lines of credit, use electronic cards and become better business partners — all without having to worry about safeguarding cash transfers with every company with which they do business.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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