Published: Sat, June 23, 2018
Finance | By Jaime Brady

Senate officially passes Canada's marijuana legalization bill

Senate officially passes Canada's marijuana legalization bill

Uruguay did so in 2013.

The Canadian Prime Minister Justin Trudeau has been tweeting his support of the successful vote, writing: "It's been too easy for our kids to get marijuana - and for criminals to reap the profits".

"The overall message is, 'Yeah, Canada legalized cannabis, hooray, ' but the actual details is where there are a lot of devils", Emery said, "The civil liberties advocates, the lawyers, the people who represent the marginalized Indigenous, the youth, the poor - the victims of prohibition - we aren't celebrating today".

The Canadian federal government had originally set the goal of having the recreational pot market open by July 1 of this year, but that date had obviously been pushed back. In Alberta, recreational weed will be widely available at more than 200 private retailers across the province.

ABC reported that the most controversial aspect of the process has been setting the minimum age for use at 18 or 19, depending on the province - lower than in USA states that have embraced legalisation. The bill makes the distribution and sale of marijuana to minors an offense.

Trudeau had made legalizing and federally regulating marijuana one of his 2015 campaign promises, arguing that only criminal syndicates profited from the drug's prohibition.

"I am proud of the work accomplished by our Government, Parliamentarians, and all Canadians who contributed to this important shift in our country's approach to cannabis", says Jody Wilson-Raybould, Minister of Justice and Attorney General of Canada. Premier elect Doug Ford hinted that he might make changes to the suggested recreational cannabis framework which was announced by Kathleen Wynne.

"It ends 90 years of needless criminalization".

"Transformative social policy, I think", Independent Sen.

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Cannabis activists cheered the move on Wednesday morning.

Cannabis stocks are enjoying Canada's decision to support the cannabis industry; the marijuana index rose 2.5% to 270 points, rebounding from its small losses in the last two weeks. "Canada's progress will galvanize support for drug policy reforms in the United States and all around the world".

NORML Executive Director Erik Altieri praised the vote.

"We've said that we will look at next steps once the coming-into-force happens but between now and then the current regime stays". The overall North American index, which includes U.S. stocks, was up 2.3%.

The Canadian flag has been adapted to have a marijuana leaf on.

Legalized marijuana is expected to be a boon for Canada's economy.

Bloomberg reports that Canada's legal pot market could surpass C$5 billion in 2020.

Canadian lawmakers approved landmark legislation on Tuesday to fully legalize marijuana.

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