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As UN Discusses Cannabis, Three Important Justifications For Descheduling

Ben Curren

Forbes

Friday 22 Mar 2019

As the United States wrestles with its own issues of cannabis legalization, it remains a hot topic on the world stage. Prior to 2018, Uruguay stood alone as the only country legalizing cannabis for recreational use, and over the past year, several other countries have come on board, namely Canada, South Africa, and Georgia. A handful of other countries have enacted some sort of legal system for medical cannabis.

Last month, in an important development, the World Health Organization (WHO) proposed recommendations to reschedule cannabis, THC, and CBD under international treaties. Under this new development, certain cannabis products would no longer be listed on the Single Convention on Narcotic Drugs’ Schedule IV – the strictest designation available. This international treaty was ratified in 1961 and today still counts 186 state parties subject to it.

That’s why this week’s meeting of the United Nations Commission on Narcotic Drugs (CND) in Austria is particularly important. In advance of the meeting, the U.S. Food and Drug Administration (FDA) provided the public with an opportunity to submit comments about the WHO recommendations. And furthermore, they announced that the comments the agency received would be taken into consideration as our envoys prepare the United States’ position on the various proposals set to be discussed.

Like nearly 2,000 others, I wanted to offer my thoughts as the United States debates this important issue on the international stage. I rarely like to be so referential here, but as I wrote to the FDA, descheduling cannabis – both at the domestic level as well as at the global level – is tremendously important. And there are three big reasons why.

1. We absolutely have to get the financial system to open its doors to the cannabis industry, and the current scheduling is a barrier to entry.

Because of regulatory conditions and international treaties alike, which include cannabis on the most restrictive schedules alongside drugs like heroin and fentanyl, no amount of state-level legalization has proven able to entice the financial industry off of the sidelines and into the game. For the most part, banks, credit unions, and credit card networks have kept their distance, even though there are tremendous profits waiting to be reaped. This has left cannabis a cash-only industry.

https://www.forbes.com/sites/bencurren/2019/03/22/as-un-discusses-cannabis-three-important-justifications-for-descheduling/#14fbfcfcbe76

 

 

 

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