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Endexx Provides Insight on Possible New Federal Cannabis Regulations
Endexx Provides Insight on Possible New Federal Cannabis Regulations.
About this update from Endexx Corp.
[{"type":"text","content":"\n Reclassification Under the Controlled Substances Act (CSA) Offers a New Pathway for Institutions and US Investment Banking to Participate in the Cannabis Industry CAVE CREEK, AZ, Sept. 12, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Endexx® Corporation (OTCQB: EDXC), a provider of innovative plant-based wellness and nutritional products, today announced insight on potential benefits of the new statements made concerning reclassification of Marijuana/Cannabis. Statements recently provided by the FDA and HHS to the DEA indicate a new policy stance at the Federal level versus the political theatre. A policy shift at the federal level provides a pathway forward for Research Institutions and US investment banking to finally participate in the cannabis industry. ‘On August 29, 2023, the United States Department of Health and Human Services (HHS) recommended that the United States Drug Enforcement Administration (DEA) ease government restrictions on marijuana. The HHS has recommended marijuana be rescheduled under the CSA from a Schedule I controlled substance to Schedule III controlled substance, following an extensive review by the United States Food and Drug Administration (FDA).” Ultimately, the DEA has final authority with respect to rescheduling and will consider factors such as the history of abuse (e.g., scope, duration, patterns, etc.), the relative potential for abuse, and the risk to public health. DEA will also consider any scientific evidence (e.g., pharmacological effect, physiological dependence, etc.) regarding marijuana/cannabis. This marks the first significant policy shift regarding Marijuana/Cannabis by the FDA since Cannabis was made illegal. Pathway to Potential Benefits for the Cannabis Industry if Reclassified: Safer banking and management of cashRegulatory compliance simplificationUS Based Public company participationUS Based Investment Banking and Capital FormationUS Leadership in International TradePhysician Participation with PatientsInstitution and Academic Research The Farm Bill of 2018 concerning Hemp legalization expires this Fall and must be extended and/or modified. The reclassification of Marijuana/Cannabis under the Controlled Substances Act (CSA) would coincide nicely with any modifications needed with the new Farm Bill to be drafted for 2023. Simply stated, this potential polic...