US President Joe Biden has turned the Medical Marijuana Research Bill into law, changing how scientists in the country can do research on marijuana.
Aussie pot stock Creso Pharma (ASX:CPH) has welcomed news of the passing of the Medical Marijuana and Cannabidiol Research Expansion Act in the US.
The act establishes a new registration process for conducting research on marijuana and for manufacturing marijuana products for research purposes and drug development.
The bipartisan bill was introduced in July, passed in the House of Reps in the same month, and unanimously approved by the Senate in November.
While the act doesn’t change the federal classification of marijuana as a Schedule I substance, which means the Drug Enforcement Administration considers it addictive and without medical value.
But chief sponsor of the act Oregon Congressman Earl Blumenauer said it will reduce some hurdles researchers have faced and streamline the application process researchers go through to obtain marijuana for study and allow them to research a much wider variety of cannabis.
Furthermore, there are moves to decriminalise marijuana at the federal level in the US. In October, Biden announced plans to pardon all federal offences of cannabis possession, highlighting the first significant step towards decriminalisation.
The move prompted more US states to legalise the use of marijuana.
Promising news for Creso
Moves to provide further research…