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The Cannabis Business Weekly Newsletter: Cannabis Industry Banking, Novel Food Europe, Anti-Terror Laws, and more

Cannabis Business Weekly
Written by Alexandra Hicks
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This week we’ll tackle the frustrating topic of cannabis industry banking and what’s being done to streamline the situation. 

Also, we’ll take a closer look at the export laws in Israel and explore new developments there. And let’s discuss the complicated novel food ruling in Europe and how the 2002 anti-terror laws are impacting the cannabis industry in the U.K. – and across the globe. 

Senate to Discuss Business Banking Access for Cannabis Industry

cannabis banking

 

While the Republican party has traditionally held an anti-cannabis stance, the Senate committee just scheduled a hearing to discuss business banking access for cannabis companies. Cannabis is a hot topic of discussion this year and with elections coming up soon, you can expect politicians on both sides of the fence to be scrambling to find solutions for all these industry grey areas.

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Novel Food CBD will become the European standard 

european novel food

It’s possible that Novel Food CBD classification may well become the accepted legal position for European CBD industry. Many ‘smart’ companies are already going through the process of securing compliance. However, at a cost of upwards of £250,000 such a certification is not coming cheap. 

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Export go-ahead will fire up Israeli company

univo

Up and coming Israeli company, Univo Pharmaceuticals, is on track to doubling their production to meet the growing European demand. However, due to airtight regulations in Israel, they’ve been waiting for approval to export their domestically-grown cannabis flower. Founder and CEO told CBD Testers that it’s a “frustrating situation” but believes their top-of-the-line product with eventually dominate the European market. 

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Anti-terror laws strangling U.K. Cannabis Capital Market

crime act 2002

The growth of the U.K. cannabis industry is being hamstrung by legislation initially drafted in response to the 9/11 attacks. The 2002 Proceeds of Crime Act effectively makes it a criminal offence for U.K. citizen to financially benefit from an activity legal overseas – which is illegal at home. Cannabis industry experts say this is deterring investment with the markets.

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OTHER TRENDING NEWS

How are CBD and grapefruit similar? – Drug interactions with cannabinoids 

cbd drug interactions

The theory that CBD can possibly interact with various medications has been thrown around for a while now, but as it turns out, some recently completed studies indicate this may be true. It’s a commonly held belief that because CBD is natural, it doesn’t have side effects or any negative drug interactions, but that’s a dangerous belief to have. 

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Combine CBD with Meditation to Find Your Center

cbd meditation

The United States is a nation plagued by stress. Nearly 8 in 10 Americans experience stress regularly, and this can lead to a variety of serious health conditions. There is strong evidence in support of using CBD, which is known to open the mind on its own, along with meditation for ultimate stress relief.

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About the author

Alexandra Hicks

Alexandra is the managing editor at CBD Testers. She has always been interested in alternative and natural remedies, and the versatility of cannabis as a healing plant is something that greatly appeals to her. It's for this reason that she decided to work as a cannabis industry journalist and editor, to help spread accurate information about the benefits of this plant.

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