SinglePoint, Inc. (SING) Set to Capitalize on Congressional Push to Regulate and Tax Marijuana

SinglePoint, Inc. (SING) Set to Capitalize on Congressional Push to Regulate and Tax Marijuana
SinglePoint, Inc. (SING) Set to Capitalize on Congressional Push to Regulate and Tax Marijuana
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The U.S. Congress in March introduced legislation to regulate and tax marijuana and to remove it from the federal Controlled Substances Act. The move (http://nnw.fm/Qi81t) would effectively end cannabis prohibition and allow it to be regulated in a way alcohol has been since 1933. This move would be highly beneficial for SinglePoint, Inc. (OTC: SING), a leading mobile technology and payment solutions company that provides ancillary services to the marijuana industry.

Legislation was introduced by Sen. Ron Wyden (D-OR) and Rep. Jared Polis (D-CO). It would allow the states to choose to legalize cannabis at their discretion. Also, federal regulations could be imposed on cannabis businesses, even in those states where marijuana is legal. A federal excise tax on cannabis products would be put into effect by a Senate bill (introduced by Rep. Earl Blumenauer (D-OR)), and the House is also considering such a measure. These measures reflect the stance that the administration of President Donald Trump has taken on the legalization of marijuana.

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Business, Cannabis Policy
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