There’s been a continuing whirlwind of activity on hemp and CBD in Washington, DC. Today, we focus on two new big developments:
1. CBD Topicals
Yesterday, the FDA issued two new warning letters to companies that have marketed topical products containing CBD for pain relief. The FDA takes the position that CBD is not a suitable inactive ingredient because, according to FDA, it has no known functional role as an inactive ingredient in a finished drug product, and has known pharmacological activity and potential safety risks. The U.S. Hemp Roundtable agrees with FDA that companies should not be marketing topical CBD products for pain relief. However, we also believe that companies should be able to use CBD in topical formulations for its inactive or cosmetic function. We will keep you updated on all developments.
2. SAFE Banking Act:
Last week, we shared that the SAFE Banking Act was reintroduced in the U.S. House of Representatives, and it is better than ever in helping hemp and CBD companies access financial transactions and merchant services. Today, Senators Jeff Merkley (D-OR) and Steve Daines (R-MT) will introduce the companion version in the U.S. Senate. Help us get this bill across the finish line. Please use our online portal TODAY to send an email to your Members of Congress urging them to support SAFE Banking.