Mexico will be forced to put regulations in place that will allow the use of cannabis for medicinal purposes in 2020. This was ordered by the Supreme Court of Justice when it ruled that a complete ban on cannabis consumption is unconstitutional, as it prevents free access to health care. Despite this progress, there are still arguments about whether new regulations should cover recreational cannabis or just medical.
The latest CBD and cannabis updates are now at your fingertips, with notifications and fresh information offered by our companion CBDNews app. Stay up-to-date with marijuana stocks for investments, global markets, cannabis legalization, and more. CBDNews is a mobile app that focuses exclusively on cannabidiol (CBD) and the very latest news in the CBD industry.
Cannabis regulation in Mexico
The ruling came at an important moment as talks regarding a complete regulation that allows and promotes cannabis markets for both medical and recreational purposes have almost completely stopped.
More than 70 initiatives have been presented, and consensus has not yet been reached. Among other issues, many parties want to ensure that deregulation also adequately includes the decriminalization of cannabis consumption, and that the new industry will also include small producers and ways to guarantee the quality of the product.
According to the coordinator of Morena’s party in the Senate, Ricardo Monreal, the only thing left to do is to “cool down” the debate, and as a matter of fact, the General Health Law was modified in 2017 to allow the use of cannabis-derived medicines in the country.
The victory for those who need therapeutic treatments based on THC (the active compound of cannabis) was only halfway: the General Health Secretariat had to build the corresponding regulations within a maximum period of 180 days.
The deadline passed but nothing changed. Eventually, a patient with epilepsy, using a valid prescription for cannabidiol oil, filed an appeal for protection before the Supreme Court and the Second Chamber later granted it. Not only did it allow him to use the medical treatment, but this also allowed for a further 180 working days for the Ministry of Health to build the regulations. As a first step, the Senate is in favor of cannabis legalization.
Virtually every party in the Senate has stated that they are in favor of legalizing cannabis, most of them even willing to allow for the use of cannabis for recreational purposes. In 2019, the Senate held an open parliament on the regulation of cannabis.
Even so, total legalization is still not favored by most Mexicans, the details were revealed by the Belisario Dominguez Institute. In the exercise cited by La Razón, it turned out that 45% of Mexicans accept total legalization for recreational cannabis and 42% reject it, leaving 5% who are in favor of medical use but not recreational use.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Xataka México, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Crowdfunding helped Cervecería de Colima to weather the coronavirus crisis
Between February 12th and 27th, Cervecería de Colima raised $448,620 (10 million pesos) through the equity crowdfunding platform Propeler. With...
Precious Metals Investing: Small-cap gold producer Inca One Gold launches the first comprehensive database of Artisanal Gold Mining operations in Peru: XplorTracker
Knowledge is power and in business good data makes all the difference. Inca One Gold Corp. (TSXV: IO.V, OTC: INCAF,...
Record growth in mobile gaming: Tencent (TCEHY) and LEAF Mobile Inc (TSX.V: LEAF) shows the potential of an innovative industry unfettered by Covid-19 in 2020
While traditional gaming companies like Activision Blizzard (NASDAQ: ATVI) fail to fall victim to the pandemic, mobile gaming companies like...
Tyba reaches 100,000 users in Colombia despite the crisis
Tyba, a digital platform that offers investment and savings services, exceeded 100,000 users in Colombia, a goal that was accelerated...
Extended reality is the future, and Zadar Ventures Ltd. is at the forefront
Emerging technologies are in the spotlight at the height of COVID-19. From drones to telemedicine to extended reality, the pandemic...
Crypto7 days ago
How governments are analyzing Crypto and Blockchains
Featured7 days ago
Credimi and Banca Generali partner to help SMEs in Italy
Business5 days ago
How to invest in a bear market: Why small-cap gold producers like Inca One belong in your precious metals investment portfolio
Featured7 days ago
The ESG Leaders Index showed strength in recent months