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UK / EU Cannabis Compliance

ICBC: Malta Home Affairs Ministry Is Reportedly ‘In Talks With A Main Bank’

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A unique cannabis public policy and industry experiment is ramping up in Malta where non-profit adult-use cannabis clubs are expected in the near future. Starting next week, Malta’s government will begin accepting applications for non-profit adult-use cannabis clubs. The European nation became just the third country on earth to pass a national adult-use legalization measure in late 2021, with only Uruguay (2013) and Canada (2018) proceeding Malta. Non-profit cannabis clubs will serve as the backbone of Malta’s adult-use industry, and this week the nation’s Home Affairs Ministry reportedly entered into discussions with an unnamed ‘main bank’ that will be needed to help Malta’s emerging industry reach its full potential.

Access to the global banking system has proven to be difficult for certain entities in the public and private sector regarding cannabis commerce, although there are certainly examples of entities being able to successfully navigate the financial regulatory labyrinth in some instances. Still, getting consistent banking solutions pinned down is something that is a top priority for any emerging cannabis market, and Malta is no exception, so reports that there is progress on that front is encouraging.

A SOMEWHAT UNIQUE MODEL

Cannabis clubs are not a new phenomenon, so from afar, what is going on in Malta may not seem significant. After all, Uruguay and Canada both already permit cannabis clubs to operate in some fashion in certain jurisdictions. For that matter, Barcelona is home to hundreds of private cannabis clubs, albeit operating in a semi-grey area of the law. Yet, Malta is unique compared to those markets in that its entire cannabis commerce model will be based on licensed non-profit cannabis clubs. Home cultivation will be permitted, but the only way to legally purchase cannabis in Malta once clubs are implemented is via non-profit clubs.

It may seem nuanced, but as anyone that has paid attention to the ongoing cannabis banking saga will recognize this is a bit of a new wrinkle. Uruguay has experienced banking issues despite permitting non-profit cannabis clubs, but it also permits sales in pharmacies. That last component was the root of banking issues in Uruguay back in 2017. Major banks in Canada are the subject of a recent lawsuit due to alleged discrimination against cannabis companies. It will be interesting to see if Malta ever experiences the same hurdles given the fact that its legalization model is much more limited compared to Uruguay and Canada.

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Malta Home Affairs Ministry Is Reportedly ‘In Talks With A Main Bank’



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UK / EU Cannabis Compliance

German Medical Cannabis Associations Call For Wider Regulatory Reform

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In July 2023, Germany’s federal government commissioned the Federal Joint Committee (G-BA) – the body responsible for determining which medical treatments are covered by the country’s statutory health insurance – to amend the current regulations around medical cannabis prescriptions.

The G-BA is in the process of deciding four specialist areas for which the current approval requirement should no longer apply, making it easier to obtain insurance coverage for the medicine.

However, the country’s medical cannabis associations say this does not go far enough and have called for the approval requirement to be removed for all conditions in which cannabis has shown medical efficacy.

Medical cannabis has been legal in Germany since 2017 and can be prescribed by any doctor for patients with serious medical conditions. It is one of the few countries globally where the treatment can be covered under the public health insurance system in certain cases.

But currently, for patients with statutory health insurance, the costs of medical cannabis are only covered if previously approved by the insurance company.

This application process is said to be ‘daunting, lengthy and bureaucratic’ for doctors and patients, with 30-40% of applications being rejected.

https://businessofcannabis.com/german-medical-cannabis-associations-call-for-wider-regulatory-reform/



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UK / EU Cannabis Compliance

Portugal: Full Legalisation on the Horizon?

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Cannareporter writes….

The legalization of cannabis may be introduced in the Portuguese Parliament and there may be political will and consensus for the approval of this regulation to be faster. In the “March for Cannabis” Manifestation, members of various parties, power and opposition, participated and revealed that it may be in 2023 that the proposal for the legalization of cannabis will enter parliament.

The staircase of the Assembly of the Republic building brought together, after the demonstration that headed from Largo do Camões, the various participants of the March for Cannabis, convened by the Mothers for Cannabis Associative Movement. It was at a time dedicated to interventions that the possibility of legalizing cannabis in the near future in Portugal was unveiled by various political leaders.

According to Francisco Themudo, National Secretary for the Rights, Freedoms and Guarantees of Socialist Youth, who addressed those present, he reasoned that there may be will, but above all, the necessary political conditions to move towards a comprehensive regulation of cannabis.

The leader stated that “smoking is an act of freedom, and that we have the right to do it safely”, defending a legal framework where the cannabis plant is not illegal. Fabien Figueiredo, former deputy for the Bloco de Esquerda and proponent of the bill to legalize personal consumption in 2021 But if there were any doubts, confirmation that, in the corridors of São Bento, cannabis is more than just talk, came from the Deputy of the Liberal Initiative, Rodrigo Saraiva. To the participants, the deputy said that it could even be in 2023 that the parliament will receive some proposals for discussion, “already with some prior consensus”.

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https://cannareporter.eu/en/2023/04/02/legalization-in-portugal-may-advance-later-this-year-with-political-consensus/?mc_cid=c0a48fdbf5



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UK / EU Cannabis Compliance

Spain Reaches Agreement on Future 1% THC Hemp Regulation

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French cannabis media outlet Newsweed writes…

In the absence of agreement for immediate regulation of light cannabis in Spain, the Spanish Workers’ Party ( PSOE ) managed to get an initiative approved by Congress which opens the door to future cannabis regulation at less than 1% THC.

If the initial objective has been considerably reduced, the initiative will make it possible to develop a clear framework for « the production, marketing and consumption of » products derived from the entire hemp plant in Spain.

Finally regulate CBD hemp in Spain

The final text should regulate all aspects that affect the activities of the non-psychoactive cannabis production cycle, as well as regional legislation on agriculture, by developing more precisely the European directives for the cultivation of industrial hemp.

According to Lucía Muñoz, Member of the UP cited by Europa Press, « the ban on this non-narcotics cannabis is equivalent to the ban on non-alcoholic beer and undermines the competitiveness of Spanish agriculture. »

The text adopted by Congress launches work for the definition of a clear framework.

He therefore calls for « progress in promoting the regulation of industrial hemp in order to give legal certainty to production, the marketing and consumption of products derived therefrom, while respecting the powers of the autonomous regions and the principle of subsidiarity in terms of protecting public security, health and agriculture ».

Read the full article at 

https://www.newsweed.fr/espagne-accord-future-reglementation-chanvre-1-thc/?mc_cid=c0a48fdbf5



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