Colombia’s president Juan Manuel Santos has signed a decree fully legalising medical marijuana in a shift away from preventing drug crop production. Until now marijuana production in Colombia had fallen into a legal grey area. While a 1986 law allowed for the manufacture, export, sale and medical and scientific use of marijuana, the practice was, until Tuesday, never formally regulated.
Now anyone wishing to grow marijuana must apply to the National Narcotics Council for a license. They would also need to get into the nitty-gritty of the business side of things as well. Looking at the financial aspect, they could decide to contact a trusted merchant account provider who could help them with payment optimization and work to reduce or eliminate the possibility of fraud. This fraud protection can reduce the number of disputes by validating the billing address and using the card verification value of the actual credit card. Using merchant account providers similar to Easy Pay Direct (https://www.easypaydirect.com/cbd-hemp-online-merchant-accounts/) and could thus prove beneficial to businesses. Medical marijuana is used for medical ailments such as Crohn’s disease, seizures, HIV, and nausea. A number of countries in Latin America have decriminalized or legalized marijuana use in recent years, as have US states such as Colorado, Oregon, and Washington. Uruguay fully legalized the production, sale, and recreational use of marijuana in 2013.
Colombia has been plagued by decades of drug-related violence, and is better known as the world’s biggest producer of cocaine, along with Peru.
- Capital : Bogota
- Currency : Colombian Peso
- Official Language : Spanish