In recent years, Europe has seen a tremendous shift regarding the legalization, cultivation, and trade of medical cannabis. This arguably started when Germany legalized cannabis for medical use in 2017, which seems to have had a persuasive effect on other EU member states.
Since then, a lot has happened. In Europe, Portugal, Denmark, Poland, and the UK have changed their regulations concerning medical cannabis. Germany has granted cultivation licenses and increased the quantity of medical cannabis that can be imported. Now, the European Union has stepped in and is working on a harmonization process among the EU member states.
What we have seen just recently are changes in some of the EU member states, like Luxembourg and France, for example. France is actually a market which, so far, was relatively conservative regarding the use of cannabis for any purpose, in particular, for medical purposes.
But from next year onwards, France is starting an experimental phase during which it will allow the use of cannabis for medicinal purposes and observe the progress. It will then base further decisions on how to proceed with cannabis regulations on the outcome. That, I think, is a significant change, because France is a big market.
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