November was another pivotal month for the cannabis industry. It showed that the tide of cannabis acceptance currently sweeping global nations is in full force. This time, however, it was not another American state that joined the legalised ranks, but two countries separated by thousands of miles. Despite both, now, sharing an acceptance of cannabis, they could not be further apart in their cultural differences. It goes to show that the benefits of cannabis extend beyond cultural acceptance and persona. Instead, both countries have recognised the benefits a legalised market can provide.
Luxembourg is the First European Country to Legalize Cannabis
At present, three coalition parties form the government in Luxembourg. They are the Green’s, the Democratic Party, and Luxembourg Socialist Workers Party. After a petition, calling for a change in laws concerning cannabis reached enough votes, all parties agreed to discuss the proposition of cannabis legalisation. With Canada currently entering uncharted territory, many countries, including Luxembourg, are using them as a point of reference.
The European nation has decided to legalise all cannabis, including recreational marijuana. This is a bold decision when many other countries are choosing to take the middle ground. For examples, the UK has recently agreed to amend legislation regarding medicinal marijuana, but, keep recreational use strictly illegal. Before revising your travel plans, and heading to Luxembourg, you should know that the legislative decision is still in its infancy.
This means, while the coalition government work out how they will regulate the substance, we are still some way off being able to purchase cannabis in the high street. Some details have been confirmed including, cannabis being distributed commercially, strict penalties for any regulation breaches, and the inclusion of addiction prevention measures. The success of both Canada and Luxembourg’s implementation of a legal recreational market could have dramatic implications for the rest of Europe.
Medical Marijuana Now Legal in South Korea
In a move that has shocked the global cannabis industry, South Korea has become the first Asian nation to legalise the substance for medicinal use. The decision is not without strict guidelines but is still a landmark move by the typically conservative country.
Unsurprisingly medical marijuana will not be freely available. Instead, several parameters will need to be met before patients can be prescribed with the substance. This is not uncommon as several western countries have already take a very similar approach.
In South Korea, only medical marijuana that has minuscule levels of THC will be legal for use. Once the drug has been approved, each patient will be required to submit an application to a government body and receive a prescription note from a medical practitioner.
While this is fantastic news both for patients and the global cannabis industry, South Korea was expected to be one of the last to accept cannabis, not the first. Regardless, now is an excellent time to learn about the investment opportunities linked to the cannabis industry. There seems to be no end to its expansion.