Regulations and Regulatory Issues

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The landscape of the cannabis industry is dynamic and continually evolving, so who is to say exactly how they will be enforcing or regulating cannabis if it does get rescheduled, but we can learn from what we have seen in the past and what we are hearing in the back rooms of regulatory agencies. This could be a significant shift that could reshape the industry. This change would signify a recognition of its medicinal value, open doors for new opportunities, and also have some consequences for companies not prepared for the shift. In this blog, we explore the potential implications of cannabis becoming a Schedule III substance and why obtaining current Good Manufacturing Practices (cGMP) 211 Certification from an accredited certifying body is crucial for ensuring the longevity and success of cannabis businesses. What we don’t know at this time is what kind of runway we have in implementing these new standards to be compliant with them. They could give 30 days or one year, but we just won’t know until it happens. The best thing you can do for your business now is become compliant with these standards before you are required to be so.

In recent years, the cannabis industry has experienced a significant shift in public perception and legal landscape. One of the key factors influencing this change is the reconsideration of the scheduling of tetrahydrocannabinol (THC), the intoxicating compound found in cannabis, by regulatory authorities. Currently classified as a Schedule I controlled substance in the United States (US), THC's rescheduling to Schedule III could have profound effects on the cannabis industry. In this blog, we analyze the many potential implications of such a change, focusing on the medical, economic, and societal aspects of the cannabis market.