The Canadian Senate approved a bill to amend the legalization of the use of recreational marijuana on June 19th, making Canada the first country in the G7 group to have this law.
According to Reuters news agency, with a 52/29 vote, the Senate of Canada approved the revised bill passed in House of Commons of Canada on June 19th, paving the way for Canada to have a complete marijuana market recognized by the law in about 2-3 months.
Commitment of the legalization of the use of recreational marijuana for for entertainment purposes has been a thesis that contributes to the success of Liberal Party of Canadian Prime Minister Justin Trudeau’s election campaign in 2015.
The party believes that the new law will help prevent marijuana falling into underage users and reducing the number of delinquent crimes.
“There has always been a lot of trouble for our kids to get marijuana, and criminals can easily make a profit from it. Today we change this. Our plan in the legalization and management of marijuana has just been adopted in the Senate”, Mr. Trudeau announced on a Twitter account.
As the first major economy to fully legalize marijuana, Canada’s implementation of this regulatory regime will likely be closely monitored by other countries that are considering similar routes.
Of course, Canada’s new marijuana law has also attracted investors who have spent billions of dollars on Canadian marijuana plants such as Canopy Growth, Aphria, Horizons Marijuana Life Sciences ETF và Auro Cannabis…
Although marijuana production is managed by the federal government, provinces and cities are also given more power in retail sales through stores managed by the state and privates.