Sugarmade Inc. (SGMD) Among Hemp-Related Businesses Likely to Benefit if Congress Approves Cannabis Banking Legislation

April 25, 2019 12:19:26
  • Sugarmade is focusing its hydroponic agricultural supplies operation on the emerging hemp industry
  • Passage of the 2018 Farm Bill opened the gates to a new wave of hemp farming that portends a possible boom market
  • The hemp industry has suffered from the same banking antipathy afflicting state-legal marijuana businesses because of federal regulation of cannabis’ drug uses
  • Congress has begun considering legislation that would potentially bar federal agencies from penalizing financial institutions that serve cannabis-related businesses

Congressional legislation that aims to open banking institutions’ doors to the cannabis industry would not only benefit state-legal marijuana businesses, but also agricultural businesses working with cannabis’ non-drug hemp plant strains, such as hydroponic equipment supplier Sugarmade Inc. (OTCQB: SGMD).

Separate bills introduced in both the House and the Senate are attempting to address public safety concerns that have arisen as 10 U.S. states have moved to legalize recreational marijuana use and as medical cannabis use has been legalized in two-thirds of states. Because recreational and medicinal cannabis drugs continue to be classified as controlled substances by the federal government’s criminal enforcement divisions, regardless of the states’ rights. . .


NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at

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