fbpx
QQQ
+ 7.05
312.29
+ 2.21%
DIA
+ 4.00
336.23
+ 1.18%
SPY
+ 6.32
403.85
+ 1.54%
TLT
+ 1.27
134.54
+ 0.94%
GLD
+ 1.54
169.61
+ 0.9%

Israel Takes Step Toward Cannabis Legalization

June 22, 2020 9:00 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Israel Takes Step Toward Cannabis Legalization

Israel is a step closer toward cannabis legalization, as the Ministerial Committee for Legislation approved a bill to legalize cannabis use on Sunday.

According to The Times of Israel, the legislation is poised to legitimatize the possession of up to 50 grams of marijuana.

In addition, it also allows individuals older than 21 to possesses and consume up to 15 grams of marijuana.

The legislation is proposed by Likud MK Sharren Haskel, who co-sponsored it with Blue and White MK Ram Shefa.

The bill will be brought before Knesset on Wednesday for voting to become a law.

For months, Israel's two largest parties have been advocating for the decriminalization of cannabis use.

Prime Minister Benjamin Netanyahu's Likud and Defense Minister Benny Gantz's Blue and White explained in a joint statement they are fighting for the legalization of cannabis use.

They stated the issue would be resolved "via a responsible model that will be suited to the State of Israel and the Israeli population."

Meanwhile, in May, Israel Economy Minister Eli Cohen backed up the export of cannabis products worldwide.

Following Cohen's approval, cannabis companies in the country were allowed to submit license requests.


Related Articles

2 Republican Lawmakers Introduce Federal Cannabis Legalization Bill

Two Republican congressmen have introduced a bill that would bring federal cannabis legalization to the U.S. read more

A Complete List Of NYSE And NASDAQ-Listed Cannabis Companies

As the cannabis industry keeps pushing forward, more companies are moving to list their stock on a major U.S. exchange like the NYSE or NASDAQ. The club, however, remains relatively small. read more

Greek Medical Cannabis Grower Hopes To List On The London Stock Exchange

Greek medical cannabis grower Hellenic Dynamics aims to list on the London Stock Exchange via a reverse takeover, hoping for a valuation of £50 million ($70.5 million), reported City A.M.   read more

Zenabis Global's JV To Launch Operations In Malta

Zenabis Global Inc.'s (TSX: ZENA) Maltese joint venture, ZenPharm Limited, was given the green light to produce cannabis for medicinal and research purposes in the Mediterranean island country. read more