Jamaica has a extended history when it comes to cannabis. The cannabis plant is ingrained in the island nation’s culture, and thanks to cannabis reform efforts, it is preparing to take its rightful spot as an international cannabis business leader.
The Carribean nation is functioning to finalize guidelines and regulations for cannabis exports, with its sights set on profitable international markets such as Germany and Australia. Jamaica’s Trade Minister Audley Shaw stated this week that there’s a big roadblock in the way proper now – cannabis prohibition in the United States, and much more especially, banking difficulties connected to the U.S. prohibition policy. Per Bloomberg:
“It’s definitely a roadblock, no other word for it, it is a big roadblock in the advancement of medicinal cannabis,” Shaw stated in an interview at Bloomberg’s New York workplace Wednesday.
He’s specifically passionate about marijuana’s prospective to lower opioid addiction prices, and is hoping to bring his message all the way to President Donald Trump.
“The gravity of this scenario demands the highest level of concentrate,” he stated.
Minister Shaw went on to point out the blatant hypocrisy of the United States enabling Canadian cannabis firms to list on its stock exchanges however at the similar time prohibiting United States cannabis firms from getting in a position to do the similar issue.
Shaw also pointed out that it is ridiculous that there are critical hurdles for cannabis banking in his nation due to U.S. policy when at the similar time Canadian cannabis firms are in a position to present stock alternatives in the U.S.
Jamaica is not the only nation experiencing banking difficulties due to the existing United States cannabis policy. Uruguay has also reportedly seasoned difficulties. The Protected Banking Act was currently authorized by the United States Home of Representatives. Hopefully the legislation passes quickly in the U.S. Senate and is signed into law for the sake of the emerging cannabis business in the U.S., Jamaica, and elsewhere.