What’s Happening: June Monthly News Round-Up

What’s Happening: June Monthly News Round-Up

What’s Happening: June Monthly News Round-Up

As Thailand legalizes growing and consumption of marijuana, New York's Cannabis Control Board votes to approve a set of proposed regulations detailing the do's and don'ts of cannabis product packaging. We’re rounding up the legal cannabis industry stories we’ve been reading this last month.

Thailand legalizes growing, consumption of marijuana

Thailand legalized the growing of marijuana and its consumption in food and drinks on Thursday, the first Asian country to do so, with the aim of boosting its agriculture and tourism sectors but smoking pot in public can still violate public health laws. Thailand, which has a tradition of using cannabis to relieve pain and fatigue, legalized medicinal marijuana in 2018.

The government, banking on the plant as a cash crop, plans to give away a million plants to encourage farmers to take up its cultivation. Reuters.

Inside the process to legalize recreational cannabis in Germany

When the German government announced in late 2021 its plan to legalize recreational cannabis sales in Germany, experts and cannabis enthusiasts put great expectations on the so-called "traffic light" government's plan to regulate the industry. Commissioner for Addiction and Drug Issues Burkhard Blienert officially announced on June 13 the kickoff of the first of five expert hearings to prepare for the planned legislative process to legalize recreational cannabis. Although lawmakers are expected to introduce a draft bill on recreational cannabis legalization by the end of this year, we can already catch a glimpse of what it could look like in Germany. Forbes.

New York Will Ban Cartoons, Neon Colors & Stoner Slang from Cannabis Packaging

Soon, New Yorkers will be able to legally purchase cannabis products, but these won't look anything like the ones sold underground. On Wednesday, June 1, New York's Cannabis Control Board voted to approve a set of proposed regulations detailing the do's and don'ts of cannabis product packaging. New Yorkers can expect to say goodbye to punny names referencing candy, as well as bright neon colors and "bubble text" letters. Cartoon characters will also be part of the ban, and manufacturers won't be allowed to feature celebrities or individuals who look younger than 21 years of age on the product packaging. Thrillist.

Recession to Wipe Out Weed Firms Trying to Make ‘Quick Buck’

Despite this doom and gloom, executives and investors expect funding for medical cannabis to be resilient as more countries allow the use of marijuana for health purposes. Plus, people usually cut back on discretionary purchases before medicine.  “Medical cannabis is an exciting area to invest in because that space is not sensitive to recession,” said David Bonnier, founding partner at Enexis AB, a Stockholm based investment company within the legal cannabis industry. “Most patients still need their medications, and they’re still gonna go see their doctors — no matter if we’re in a recession or not.” The medical cannabis market in just the UK could be worth more than £453 million by 2026, according to Prohibition Partners, another cannabis industry research firm. Bloomberg UK.

London Drugs Commission to look at legalizing cannabis

A new group looking at whether to decriminalize cannabis in the UK has been set up by London mayor Sadiq Khan. Former justice secretary Lord Charlie Falconer QC will chair the first London Drugs Commission. BBC.

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