Mexico Inches Toward Cannabis Legislation
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Mexico could be one step closer to approving a legal, recreational cannabis industry after a draft of legislation was posted to the country’s Senate website.
Despite the emergence of the drafts, it could take years to enact and and get to a place where the country is operating a functional market, according to Marijuana Business Daily.
The publication reported various commissions are slated to present the draft to the Mexican Senate in the near future.
In addition to cannabis legalization, details in the draft include a focus on social responsibility and efforts to promoted sustainability; an independent institute to handle initiation of the law; licenses; and advertising prohibitions among other things.
Marijuana Business Daily reported the draft of the legislation would be strict on foreign investment and prohibit vertical integration.