CBD Regulations Confuse Suppliers And Consumers
CBD regulations in the U.S. have confused suppliers as well as consumers with the Food & Drug Administration (FDA) issuing warning letters to some CBD marketers for possible violations of the Federal Food, Drug & Cosmetic Act. In a Consumer Update, the FDA said CBD cannot now be labeled a dietary supplement. But under CBD regulation issues under review by Congress that could change in the future.
CBD Regulation Issues
Lawmakers wish to provide growers and processors — as well as retailers and consumers — more guidance on CBD regulation issues. To that end, legislators seek to have the FDA permit CBD products to be recategorized as dietary supplements. That would help end the confusion and help define how the agency will regulate CBD in the future.
CBD retailers, suppliers and growers appear to welcome the legislation, which would take place in the Agriculture Committee of Congress. More defined regulations would follow, but it represents a start after the FDA hearings on the subject last year.
The FDA sent 15 warning letters to the illegal CBD sellers which have violated the act. There are so many different regulations, this is an industry crying out for clear rules on what is and isn’t legal. CBD regulation issues appear more clearly defined in Canada where CBD is legal nationally under license. Canada’s provinces legalize CBD individually for growing, processing and retailing. The process is simple to understand for industry participants.
California is the largest state for CBD sales in the U.S. and now it is proposing to centralize all cannabis regulations, monitoring and tax collecting centrally in one governmental entity. That would make it easier for state budgeting, but also for growers, processors, markets and consumers about the dos and don’ts of CBD. CBD regulation issues would be more clear cut in California and the centralization trend could spread to other states.
One result of the confusion in the U.S. over CBD regulation issues is that CBD stock investors are seeing a higher profile in the media for CBD. For example, stockmarketpress.com features coverage of stocks such as CBD Unlimited, Inc. (OTC PINK: EDXC)), Aurora Cannabis Inc. (NYSE:ACB) (TSX: ACB), Supreme Cannabis Co. (OTC: SPRWF), The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF), OrganiGram Holdings Inc. (NASDAQ: OGI) and Canopy Growth Corp. (NYSE: CGC).
The legislation would be a bi-partisan effort by lawmakers on behalf of the hemp and CBD industries to proceed with marketing efforts. Additionally, the legislation proposed asked for a USDA study on establishing and operating a hemp testing program. The study would also evaluate the costs for required reporting. Canada’s nationwide licensing and regulations could offer a blueprint of how such a program would work in the U.S.
Source: Stock Market Press
Join Stock Market Press’ newsletter for the latest in IPO, market commentary and company profiles.
Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.
Stock Market Press
110 Wall St.
New York, NY 10005 firstname.lastname@example.org Safe Harbor Statement:
Statements in this news release may be ”forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
See Stock Market Press disclaimer: https://stockmarketpress.com/disclaimer/ SOURCE: Stock Market Press