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Cannabis’ Responsibility: Self-Policing for a Safe Future

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As an advocate for the cannabis industry, I believe we must take responsibility for our actions and self-regulate in the absence of federal legalization. In this article, I will emphasize the importance of setting our own standards to ensure safe commerce, foster a healthy industry, and avoid potential government intervention. By self-policing and adhering to best practices, we can pave the way for a secure and thriving cannabis industry.

The Need for Self-Policing

While the prospect of federal legalization may still be years away, we cannot afford to be complacent. In the interim, it is our collective duty to police ourselves and establish industry-wide standards. Even if federal legalization eventually occurs, it will take additional time for regulatory agencies to align and agree upon safety standards. Considering the complexities involved and the multitude of agencies, the process may be lengthy.

Learning from the Canadian Experience

Canada provides an example of how self-policing played a crucial role in the cannabis industry. Although they faced their own challenges, the relative absence of bureaucratic hurdles allowed for a more streamlined process. Canada successfully established safety standards and guidelines, thanks in part to their ability to make decisions efficiently and minimize red tape. Drawing inspiration from their experience, we must step up and regulate ourselves to ensure similar success.

Avoiding the Pitfalls of the Past

We can learn valuable lessons about the consequences of failing to police ourselves by looking back at the mortgage crisis. Greed and corruption led to the subprime mortgage market collapse, exposing unsuspecting investors to massive risks. It was only when the government stepped in that the industry was forced to confront the fallout. We cannot afford a similar scenario in the cannabis industry, where government intervention would overshadow our progress. We must be proactive and self-regulate to demonstrate maturity and responsibility.

The Importance of Cannabis Industry Self-Policing

To exemplify the power of self-policing, let’s consider the example of taxicab medallion loans in New York City. The industry took it upon themselves to protect the value of these medallions. If a medallion was stolen from a cab, the entire taxicab industry actively sought its return. In cases where the medallion was recovered, the industry would collectively address the wrongdoing, emphasizing the importance of adhering to established guidelines. This self-policing approach resulted in low delinquency rates and losses, highlighting the effectiveness of industry accountability.

The Way Forward

In the absence of federal guidelines, we must pay close attention to the regulations set by each state. State guidelines are currently the only legal framework we have, and it is our responsibility to adhere to them diligently. We must prioritize best practices in all aspects, including manufacturing, cultivation, and lab reporting. By upholding high standards and self-regulating, we can demonstrate the integrity and commitment necessary for the cannabis industry to flourish.

Cannabis Self-Policing: It’s Our Shared Responsibility

In conclusion, the cannabis industry faces the critical task of policing ourselves to ensure a safe and thriving future. As we await federal legalization, we must not wait for external intervention or government enforcement. By embracing self-regulation, adhering to state guidelines, and embracing best practices, we can create an industry that is responsible, accountable, and committed to providing safe and high-quality cannabis, CBD, and hemp products. Together, let us take charge of our industry and pave the way for a future built on trust, integrity, and the well-being of consumers.
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