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420 with CNW – Mexican Senator Files Cannabis Legalization Bill as Supreme Court Deadline Looms

Barely a month before the deadline given by the Mexican Supreme Court compelling the government to pass legalization legalizing marijuana elapses, a senator has filed a bill to end prohibition.

Sen. Julio Menchaca Salazar, the chair of the Senate Judicial Committee and a member of the ruling party in the country, filed the bill that seeks to legalize the possession, cultivation and use of marijuana by adults.

The bill intends to amend two existing laws while also providing for the use of medical marijuana. The bill will also legalize the use of industrial hemp in the manufacture of textiles.

During a speech delivered on the floor of Mexico’s Senate, Salazar argued that the prohibition of marijuana only benefited criminal enterprises. He also pointed out that it was possible to legalize and regulate the marijuana market, and he cited the example of different states in the U.S. that had done so successfully.

The introduction of this bill was made just a week after the Mexican Senate announced that it was going to conduct a series of events that were geared at encouraging dialogue about the objectives and the likely challenges that may be faced while the legal cannabis industry is implemented.

Talk about reforming Mexico’s marijuana laws has been an ongoing thing, but the movement only gathered momentum after the Supreme Court made a crucial fifth ruling last year to the effect that the government was in violation of the constitution by prohibiting adults from consuming recreational marijuana.

That ruling effectively tied the hands of the government and forced it to begin working out how the recreational marijuana industry can be regulated. In fact, Salazar revealed that legislators would use their recess in the summer to draft a legalization law.

True to that promise, a bill was introduced from amongst the many that the public had been told about. Since this particular bill is coming from a leading figure in the ruling government, there is a high likelihood that it will be passed without major changes. President Lopez Obrador has also spoken in favor of legalization, so it is unlikely that the bill will encounter any serious hurdles.

When the bill is eventually passed and implementation begins, yet another neighbor to the U.S. will have legalized marijuana and this could apply subtle pressure on the U.S. to reform its own marijuana laws as reform advocates would refer to the success attained in those neighboring countries.

Industry analysts believe that marijuana industry players like The Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF) and Therma Bright Inc. (TSX.V: THRM) (OTC: THRBF) take comfort in the hope that marijuana reforms will eventually take place at the federal level in the U.S., so it is just a matter of waiting out this interim period.

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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.

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