24th December 2019

FDA’s Inaction & Congressional Committee for CBD 

24th December 2019 | 0 Comments

                               

The CBD industry sources in Washington have recently expressed their concerns about the Food and Drug Administration’s (FDA) reluctance to make CBD legal to sell in a supplement. Let’s see what’s going on in the industry and find the right CBD merchant account for your business.

CBD Regulation: CBD Merchant Account

For years, the FDA hasn’t allowed the cannabis-derived compound or cannabidiol to be sold in a supplement or added to food. Now, for the 1st time in U.S. history, a marijuana legalization bill has been approved by the House Judiciary Committee.

Specifically, on November 20, 2019, 2+ hours’ of debate ended with the committee’s approval.  The 2019 Marijuana Opportunity Reinvestment and Expungement (MORE) Act was approved in a 24 to 10 vote. If the MORE Act becomes law, cannabis will no longer be prohibited in the country.

On November 25, 2019, the FDA published a revised consumer update concerning the safety issues around CBD products. Based on the updated statement, since there isn’t enough research data, the administration can’t call CBD products safe.

What about your own CBD business? Are you overcoming the challenges in the field successfully? If you work with a reputable high risk merchant services provider in your field, things will get easier for you. Just turn to a respectable high risk payment processor that offers the easiest and fastest access to the safest and cheapest CBD merchant account in the space.

CBD in the U.S.: Legal or Not

Up to now, 33 states and the District of Columbia have broadly legalized marijuana in some form. 10 other states and Washington, D.C. have legalized marijuana for recreational use. Experts in the industry anticipate CBD products to account for almost $3 billion by 2021.

When it comes to the U.S. Air Force, the latter has recently announced … Read the rest

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