- A total of 31 states plus D.C. have legalized medical marijuana, and nine states and D.C. have legalized recreational marijuana in the U.S.; recreational marijuana is now legal across Canada
- Legislators predict in a presentation at George Washington University that bills to legalize marijuana nationally will be introduced in Congress in 2019
- REFG would benefit from cannabis legislation as a payment processor within the industry with its Green digital processing system and as owner of a licensed hemp grower/processor
Medical Cannabis Payment Solutions (OTC: REFG) stand to gain if the predictions of two legislators that federal cannabis legalization bills will be passed in Congress in 2019 are correct. The Congressmen said at a session of the Cannabis Law Institute, hosted by The National Cannabis Bar Association, at George Washington University, that legislation to legalize cannabis nationally is anticipated next year no matter which party controls Congress (http://nnw.fm/Ps2Ms).
REFG would benefit from such a move, because it is well entrenched in the cannabis industry. It offers Green, a cashless processing system, and maintains ownership of SpeedyGrow, a Wyoming-based firm licensed to grow and process hemp in Colorado (http://nnw.fm/Ukpg8). Medicinal marijuana is now legal in 31 states plus D.C. In addition, nine states and D.C. have legalized both medical and recreational marijuana (http://nnw.fm/y5s3K), and Canada recently made recreational cannabis legal nationwide.
Reps. David Joyce (R-Ohio) and Earl Blumenauer (D-Oregon) told the session that bills legalizing cannabis in the U.S. – it has thus far been a state-by-state issue – would be introduced into Congress in 2019. They specifically cited the “STATES” Act (Strengthening the 10th Amendment through Entrusting States), introduced in June, which would exempt states with legal cannabis from federal cannabis law enforcement. Both lawmakers said that the bill and other cannabis legislation will “likely pass” next year.
REFG, a Nevada-based firm, offers Green as a tier one digital payment system that processes payments safely and creates a non-cash environment for cannabis dispensaries and retailers. It is Financial Crimes Enforcement Network (FinCEN) compliant, is available to the entire cannabis market and offers online sign up. It can also handle all payments for a small business retailer (http://nnw.fm/R6uW6).
REFG’s Green enables patients and cannabis customers to sign up online. The cards can be branded to the vendor, create a safe processing system and build customer loyalty. The platform also enables merchants to complete their own financial transactions by handling internal payments, such as accounts payable, vendor payments and any other invoices incurred by small businesses. The customer or patient can also pay directly from a bank account without requiring cash.
For more information, visit the company’s website at www.Take.Green
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