Canada is showing the world the way forward on marijuana legalization. In Ontario, superior and appellate courts have ruled that Canada’s cannabis laws are null and void. Challenges to change federal law towards decriminalization, on the other hand, have failed. There’s a lesson to be learnt for blockchain regulators here.
Nevertheless, Health Canada does regulate cannabis for medicinal purposes in a system industrial nations are looking towards as an example. As well, hemp plant cultivation is legal in Canada for seed, grain and fiber production. Public opinion finds more-and-more Canadians believe each year since 1997, “Smoking marijuana should not be a criminal offence.”
Indeed, Canada has positioned itself as one of the most pro-marijuana governments in the world. Prime Minister Justin Trudeau said he wanted to “legalize, regulate, and restrict” marijuana for recreational use.
When I spoke with Alan Brochstein – the 420 Investor – he told me : “I spend my time focused on Canada. It has a federally legal medical marijuana program that is almost two years old, and while off to slow start initially, it has gained a lot of traction and there is a lot of excitement. Because of a government change there, very likely in next two years, we will have legal cannabis on a federal basis in Canada. That’s an exciting part of the cannabis investment space.” Brochstein believes Canada could be a global leader in marijuana.
“The US could be in that position, but already other countries are looking to the Canadian model, which is tightly regulated production at federal level,” he added. “We don’t have that in the US.”
Trudeau has vocalized his intention to take marijuana consumption and small possession out of the Criminal Code. New laws will enact stricter punishment for those who supply cannabis to minors or while driving stoned, for example.
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