New York Now the 23rd U.S. State to Decriminalize Medical Marijuana

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New York Now the 23rd U.S. State to Decriminalize Medical MarijuanaNew York became the 23rd state in U.S. to legalize the use of marijuana for medical purposes, though the law itself is one of the most restrictive in the country. This is because it limits users to ingesting the drug or administering it via an oil base or a vaporizer.

The law, which was signed by Governor Andrew Cuomo on Saturday, states that patients with only one of the 10 medical conditions will be available to access the non-smokeable form of the drug. Cuomo insisted that allowing users to access the raw form of the drug could potentially result in it finding its way to the hands of criminals.

Cuomo is expected to conduct a ceremonial bill signing today in New York City. However, the first drug won’t be accessible for more than 18 months as potential distributors, state regulators and doctors roll out the program, according to the Associated Press.

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The drug also restricts the licensing of medical marijuana providers, providing for a maximum of five businesses to plant and distribute the drug. Each business is expected to have a maximum of four dispensaries across the state.

The medical conditions that qualify a patient to access the drug include Parkinson’s disease, Huntington’s disease, AIDS, neuropathies, Lou Gehrig’s disease, multiple sclerosis, epilepsy, some spinal injuries and inflammatory bowel syndrome.

In a separate report, Florida is expected to draft laws governing how Charlotte’s Web, a strain of medical marijuana, will be planted and distributed statewide. The Department of Health is conduction a workshop today in Tallahassee to deliberate on such issues. To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.

To contact the reporter of this story; Jonathan Millet at john@forexminute.com