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://cnw.fm/4EDv0). . . . 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.”
To view the full article, visit http://cnw.fm/iQn4l
About Sugarmade Inc.
Sugarmade Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade’s brands include Zenhydro.com, AthenaUnited.com, CarryOutSupplies.com and BudLife Cannabis Storage Solutions. For more information, visit the company’s website at www.Sugarmade.com.
NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SUGAR
About CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.cannabisnewswire.com
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer
Do you have a questions or are you interested in working with CNW? Ask our Editor
CannabisNewsWire (CNW)
Denver, Colorado
www.cannabisnewswire.com
303.498.7722 Office
Editor@CannabisNewsWire.com
