Germany may soon legalize cannabis across the country after party leaders recently reached an agreement to do so. The legalization bill, which will be introduced in the next legislative session, will restrict alcohol, tobacco and marijuana from being advertised as well as offer broader drug harm reduction services. Currently, the country has in place a medical marijuana program. This is in addition to having already decriminalized the personal possession of cannabis.
The legalization bill to be introduced would establish a regulated market for adult-use cannabis. The governing coalition in the country comprises of the Greens, the Free Democratic Party and the Social Democratic Party of Germany.
In a recent report, the coalition stated that it would introduce the controlled distribution of marijuana to adults for recreational purposes in state-licensed shops. Coalition leaders believe that regulating cannabis sales will help stamp out the illicit drug market for the herb, noting that four years after the measure is implemented, a review of the proposal’s social impact will look into the strides the bill has made.
While the legislators emphasized that the bill’s aim wasn’t to boost the country’s tax revenue, the Free Democratic Party stated that by its estimation, taxing marijuana could generate about a billion euros ($1.13 billion) every year. The report, which was circulated by Der Spiegel, also looks into how the bill could promote harm reduction by permitting drug-checking services where individuals could have illicit substances tested for harmful products and contaminants.
The wheels of this long-awaited measure were set in motion a few years ago when members of the Christian Social Union and the Christian Democratic Union began talks with Greens and Free Democrats about advancing cannabis legalization. Germany’s neighbor Luxembourg recently unveiled a proposal to legalize marijuana, and the country’s parliament is expected to vote on the measure early next year, with many expecting it to be approved.
Either of the two countries enacting the reform first would make that country the first in Europe to do so. Other non-Europeans countries that have already legalized recreational marijuana include Uruguay and Canada.
In the United States, the House Judiciary Committee approved a measure in September that would promote social equity and legalize cannabis. Some GOP members of Congress have also introduced a measure to federally legalize and tax cannabis.
In Mexico, the country’s legislature may vote on a measure to regulate marijuana in the coming weeks. This comes after Mexico’s Supreme Court ruled that prohibiting the use of cannabis was invalid based on the nation’s constitution.
The geographical limits of where cannabis companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) can operate could soon melt away as legalization spreads not only to mainland Europe but to other continents around the world.
NOTE TO INVESTORS: The latest news and updates relating to Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are available in the company’s newsroom at https://cnw.fm/RWBYF
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.CNW420.com
Do you have questions or are you interested in working with CNW420? Ask our Editor
CNW420 is part of the InvestorBrandNetwork.