We all know the federal laws in the United States have had an incredibly strenuous impact on the cannabis industry, but the effects reach all the way to the global cannabis trade.
We’re also taking a look at some big changes coming to Weedmaps listings in the coming months. Also, as North American companies focus more heavily on THC-gummies, U.K. continues to struggle with EU novel food regulations. All that and more in this week’s CBD Business Weekly Review and Newsletter.
One of the main roadblocks to the growth of the global cannabis trade is the fear of prosecution hanging over banks, claims a new report. The Cannabis Legal Report published by London-based Prohibition Partners, finds that medical cannabis now legal in 43 countries with an ever-increasing number of countries also allowing access to CBD products.
It says this ‘significant’ shift in attitudes to cannabis has been driven by ‘a kaleidoscope of forces including widespread political upheaval, technological innovation and new societal norms’.
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One of the biggest names in the cannabis industry just announced they would be asking all advertisers for their state license number for retail listings. So if you happen to use Weedmaps for your dispensary needs, especially in Southern California, expect to see quite a few listing disappear in the coming months.
Despite the lack of legal clarity, many cannabis companies are focusing their time, efforts, and resources on creating and manufacturing THC gummy bears. One licensed Canadian producer, Zenabis Ltd. told reporters that they are “prioritizing the gummies category of edibles because of its demonstrated and growing appeal south of the border.”
Further evidence U.K. CBD companies will have to comply with the E.U. Novel Food directive have emerged in the last few days. Following a press release from the Centre for Medical Cannabis (CMC) saying it is looking to launch a new CBD Kitemark scheme, in collaboration with the Food Standards Agency (FSA) – CBD Testers contacted the CMC and the FSA.
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