As of July 1, 2020, Virginia’s marijuana decriminalization policy officially came into effect, making the Commonwealth of Virginia the 27th state to enact such a policy change. This came a month after Gov. Ralph Northam signed a bill that would make possession of up to one ounce of cannabis punishable by a $25 fine with no threat of jail time and no criminal record. Prior to this policy change, simple possession was punishable by a maximum $500 fine, up to 30 days in jail and a criminal record.
And just a day after the marijuana decriminalization law took effect, Virginian lawmakers announced their plans for a legal cannabis market. On July 2, 2020, a group of Democratic state legislators announced plans to introduce a bill to legalize and regulate a commercial cannabis market. The measure…
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
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