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Can Uruguay's marijuana experiment succeed? - The Stream

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Uruguay's closely watched cannabis legalisation plan has hit a roadblock after US banks announced they would no longer do business with companies that have links with the marijuana business. Uruguay's government announced it would switch to a cash business while they hammered out other changes to their original retail plan.In 2013, Uruguay became the first country in the world to fully legalise recreational pot after years of debate in the country. The law was presented as a way to reduce increasing drug trafficking and violence. Stringent regulations are in place to make sure the state controls all aspects of production. Users have to register with the government, a fingerprint is used for purchasing, and quotas are in place to prevent users from buying in excess.The move by US banks raises questions about the global legalisation trend. Canada introduced a bill in April that Justin Trudeau's liberal government hopes to pass by next summer, and other countries in Latin America like Colombia and Mexico are moving forward with their own legalisation plans. US banks control vast amounts of capital and many countries are reliant on them. But states don’t all agree if and how marijuana should be legalised, leading to confusion on where exactly the US and international law stand on the issue. In four states recreational use is legal, and medical marijuana is legal in 29 states plus the District of Columbia.Some pharmacies in Uruguay were quick to say if their bank accounts were under threat of closure, they wouldn't hesitate to stop selling cannabis.We'll discuss the progress of Uruguay’s legalisation plan. Join the conversation:TWITTER: https://twitter.com/AJStream FACEBOOK: http://www.facebook.com/AJStream GOOGLE+: http://google.com/+TheStream Subscribe to our channel http://bit.ly/AJSubscribe


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