The cannabis industry is watching closely as California Governor Gavin Newsom implements emergency rules that could significantly restrict the sale of cannabis-derived products.
Potential restrictions aimed at controlling cannabis availability in the state have sparked concern among operators and industry experts, who fear they could cause ripple effects across the cannabis market. is causing.
Ispire Chief Impact Officer Luna Stower weighed in on the proposed regulations ahead of her participation at the Benzinga Cannabis Capital Conference. Stower, who has worked in the cannabis industry for more than a decade, highlighted how these rules can stifle innovation and reduce economic opportunity in a state that has long been at the forefront of cannabis reform. .
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Impact of the proposed restrictions
Newsom's emergency rule would impose stricter restrictions on cannabis-derived products, including those containing cannabinoids such as CBD.
Stower noted that this move could have a negative impact on the growth and development of cannabis-related businesses, especially in California.
“Governor Newsom's proposed regulations could have significant ramifications throughout the cannabis industry, particularly in how we approach cannabis-derived products,” Stower said. She highlighted the potential economic impact: “Restricting access to these products risks undermining innovation and economic opportunity within California, a state that has historically been a leader in cannabis reform.” he added.
One concern Stower raised is that California is often seen as a trendsetter in cannabis legislation and could influence other states to follow suit. If similar restrictions were adopted nationally, they could have far-reaching implications for access to hemp and its derivatives, which are widely used for therapeutic benefits.
“Furthermore, if California adopts these emergency regulations as a trendsetter, it could lead to similar regulations across the country, impeding widespread access to the therapeutic benefits of hemp,” Stower explained. did.
The need to clarify hemp regulations and THC regulations
Stower also called for a more unified regulatory approach between cannabis and THC products, saying clearer policies are needed to balance consumer safety with the need for economic growth in the cannabis sector. insisted.
“We need greater clarity and consistency in the regulation of hemp and THC to avoid undue burdens on businesses while ensuring consumer safety,” she stressed. Stower's comments reflect growing concern within the industry that the hemp regulatory landscape is becoming increasingly fragmented, creating confusion for businesses and consumers alike.
As California's proposed regulations evolve, Stower and other industry leaders are calling for regulatory clarity so the hemp and cannabis market can thrive without unnecessary barriers. These issues are expected to be part of a larger discussion at the Benzinga Cannabis Capital Conference, where industry leaders will share their views on the future of cannabis and hemp regulation.
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