All industries in their infancy face regulatory hurdles and growing pains. The cannabis industry is no exception. The lack of regulation on the federal level combined with the juxtaposition of state-by-state regulation has stunted the growth of the cannabis industry in the US. This week, we take a look at some of the developments on the regulatory front.
The FDA seems to be making some moves, or at least some noise, regarding cannabis and the use of cannabinoids. On the heels of new guidance materials, the FDA will hold several seminars on the use of cannabis in different sectors of the industry. California takes what could be a big step forward in paving the financial way for cannabis companies by passing legislation providing cover for banks who work with cannabis companies. The federal government has been sitting on a similar bill for almost two years.