The new draft of Regulatory Decree for Medicinal Cannabis: Part 1 - Change to the general requirements of license applications
The Ministry of Health has proposed a new Draft Decree regarding the Safe and Informed Access to the Use of Medicinal Cannabis, to replace the current one (Decree 613 of 2017). This is the first of a series of weekly articles explaining the most important changes that the new Decree will bring. In this article we will analyze the new general requirements for all cannabis licenses and its effect on license application.
The protection of cannabis companies financial rights within Colombia’s legal system
Even when the government has fully regulated and legitimated the cannabis industry, unfortunately, financial institutions, and particularly banks, are still coming up with obstacles for cannabis companies to acquire financial services. However, cannabis companies should be well aware that these arbitrary exclusions are averse to the rights contained within Colombia’s legal system and, therefore, they can be taken down in a prevalence of national and international economic interests.
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Colombia’s cryptocurrency bill seeks to provide a ground of legal security for the industry
Considering that last year the cryptocurrency market was valued in USD 540 million, it is easy to see why this industry has multiplied its growth in Colombia at an alarming speed. Despite this, until now Colombian institutions have failed to provide legal security for cryptocurrency operators and acquirers.To emend this situation, Congress is discussing a cryptocurrency bill, which also addresses the use of blockchain technology.
The key aspect to commercialise cannabis derived products
As commercializing is one of the key stages in every productive project, being well aware of Colombia’s government imperatives is crucial in order to achieve the projected economic returns, and cannabis projects are no exception. Hence, one of the fundamental steps to follow is obtaining the sanitary register for the cannabis derived products to be marketed.
What are the rules to be observed while operating a crowdfunding platform in Colombia?
As crowdfunding activities were finally regulated by Colombia's goverment, these platforms are allowed to operate on clear grounds, making this a perfect time to invest in the industry or to start new crowdfunding initiatives.