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