FDA warns CBD beverage makers.
Last week, the U.S. Food and Drug Administration warned five companies for “illegally selling products containing cannabidiol (CBD).”
The companies included:
Naturally Infused LLC
Newhere Inc dba CBDFX
CBD American Shaman, LLC
The FDA separately published a post in which Douglas Stearn, Deputy Director for Regulatory Affairs of the FDA’s Center for Food Safety and Applied Nutrition, and Kristi Muldoon-Jacobs, Deputy Office Director of the FDA’s Office of Food Additive Safety discuss “What the FDA is Doing to Protect Consumers from Cannabidiol (CBD) in Foods.”
The reason? “The FDA has been receiving an increasing number of adverse reports about cannabidiol (CBD) containing products that consumers may confuse for conventional foods and beverages.”
Latest FinCEN update: cannabis banking remains steady.
The Financial Crimes Enforcement Network (FinCEN) released its quarterly data on financial institutions that work with cannabis businesses, as well as state-level data, a first.
This state-level data is an interesting prism through which to view state cannabis industries. For example, California has the highest number of financial institutions that work with the state’s cannabis industry. Makes sense. The state has a higher population than any other with legal medical or adult use, and it has a maturing industry with thousands of state-legal cannabis businesses.
Which state is next? Oklahoma, which also makes sense when considering the state has had a very low barrier to enter the state’s medical cannabis industry. The state has a comparable number of licenses to California, but one-tenth of the population.
Also noteworthy: New York accounts for just 2% of the banks filing these reports. That also makes sense, given that there are only 10 medical cannabis licensees (and just 36 conditional adult use licenses awarded last week).
In Ireland, a personal use decrim bill emerges.
Deputy Gino Kenny, of the People Before Profit party, introduced to Ireland’s parliament a bill to decriminalize personal use cannabis. He called it a “moderate first step” that could pave the way for “more progressive drug policy in Ireland.”
The bill is unlikely to become more than a talking point, but it comes at a time when Germany’s move toward legalization has made cannabis quite an active topic of conversation across the UK and Europe.