Post date: 8/8/2018

Marijuana is one of the important components that are required in medical industries. Diseases like epilepsy and such are cured with the help of medicines that contain marijuana. However, the component is still not legalized in the United States. As per the recent survey, nearly 51% of the US has been legalized Marijuana for recreational and medical purposes.

Even after legalizing marijuana in major parts of US, the federal law does not consider marijuana as a legal drug. According to the Health Department, marijuana is a schedule 1 drug that has minimal medical value. However, the fact is unavoidable that cannabis is largely used by the medical professionals for curing many diseases.

Last week, a bill has been passed by the US government. According to the bill, a federal study will be conducted on the impact of the use of marijuana in the US. The Department of Health and federal law will join hands to conduct the study.

The marijuana industry is facing hard times in the US. Some of the officials think that the absence of legalization triggers crime in the states. Another major issue faced by the dealers and dispensaries is the financial channel for the cannabis industry. As there is no public bank or an appropriate Cannabis banking solutions, huge cash dealings are encouraging black money in the economy.

Some of the private merchant service providers have emerged as big help here. These companies are providing cannabis merchant accounts for transactions. Debit card, credit card, gift cards and so on are the services that these companies provide to the dealers.

One of the many reasons for having so many issues in the marijuana industry is their act. The marijuana act was not reformed for a long time. This has caused tax instability in the US economy as well. Many are speculating that after passing this bill, the scene will be better. However, according to the officials, this bill is nothing but information bill that will collect some important data on the effect of marijuana consumption.

According to the guidelines, the information has to be reported to the officials on time. On the basis of the information, the next steps will be taken. It is clearly said by the spokesperson that this bill is not a cannabis bill or helping cannabis payment processing in any way. It is just an information bill that will be benefited for the citizens, patients, and dealers of the cannabis in the United States of America.

 

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Reference Links:

  1. https://hightimes.com/news/bill-requires-federal-study-impact-marijuana-legalization-introduced/
  2. https://www.vox.com/cards/marijuana-legalization/marijuana-schedule
  3. https://www.forbes.com/sites/tomangell/2018/07/03/senate-committee-slams-marijuanas-federal-classification-saying-schedule-i-blocks-research/#b5d020b742cc
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