Marijuana Bill Introduced in Congress as Industry Readies for Growth – PYMNTS.com

The first marijuana bill of the new Congress has been introduced.

Cannabis stocks in the United States and Canada typically rise when legal reforms are proposed, as they did in December when President Joe Biden signed a marijuana research bill into law, Seeking Alpha reported Monday (Jan. 16).

The bill (HR 363) introduced Friday (Jan. 13) by Rep. Alex Mooney, R-W.Va., concerns the sale, purchase and possession of firearms by users of medical marijuana.

Monday afternoon, cannabis stocks were up 0.19% for the day, according to Yahoo Finance.

FinTechs and others have been gearing up for growth in the cannabis industry in the states in which marijuana has been legalized.

For example, in November, cannabis sales platform POSaBIT teamed with delivery management company Onfleet to create more efficiency for its cannabis industry customers.

As marijuana becomes legal in more places, “businesses will need to ensure their infrastructure and processes (i.e., payments) are prepared to efficiently handle consumer demand and successfully scale,” POSaBit said Nov. 29 when announcing the collaboration.

Earlier that month, enterprise commerce technology platform Treez completed its acquisition of payment solutions platform Swifter, adding its roster of retail cannabis clients to that of Treez.

In August, it was

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