Sen. Ron Wyden (D-Ore.) introduced the Cannabinoid Safety and Regulation Act (CSRA), a bill that seeks to establish a federal framework for regulating cannabis-derived cannabinoids such as CBD and delta-8 THC. , which made headlines a week ago.
ONE HEMP on Wednesday applauded Congress' action to regulate CBD as a dietary supplement, calling the move “long overdue.”
A coalition of industry leaders has been working to advance regulatory standards for hemp-derived cannabinoid (CBD) products for many years.
“ONE HEMP is deeply committed to a bipartisan legislative process and has worked closely with Congressional leaders on both sides of the political spectrum to provide scientific and market expertise,” said ONE HEMP General Counsel and said Kelly D. Fair, Partner at Dentons US. The Wyden bill marks the beginning of a process that will ultimately lead to an approach that fosters a vibrant CBD industry and ensures that millions of consumers have access to the highest quality and safest CBD products. ”
ONE HEMP added that this legislative effort is the result of collaboration among industry leaders and highlighted Charlotte's Web's participation in CWEB CWBHF. The company, a pioneer in medical cannabis, has been at the forefront of advancing regulatory standards at the FDA level for more than a decade, the group said.
Also read: Is a strategic shift underway? Are cannabis giants entering the hemp-derived THC market?
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Bill Molachnik, CEO of Charlotte's Web, praised the legislation's milestone, calling the CSRA “an important step for the CBD industry.”
“Charlotte's Web is committed to working with other CBD industry leaders as part of ONE HEMP to deliver the best possible benefits to the industry and, more importantly, the millions of consumers who trust our products. I am proud to provide the support Congress needs to ensure we move forward on this path,” Molanic added.
The company, which has long been at the forefront of the CBD hemp extract wellness product space, expresses strong opposition to new regulations in California that restrict the sale of many ingestible full-spectrum hemp CBD products that meet federal requirements. did.
Moranik said Gov. Gavin Newsom's recently enacted emergency ban on all cannabis-derived THC products in the Golden State “goes too far and unnecessarily limits access to safe, non-intoxicating cannabis products.” “There is,” he said.
However, he is not opposed to regulating synthetic or intoxicating products. ONE HEMP has the same stance.
“This Congressional action (CSRA) comes at a critical time, and the federal regulatory vacuum following the 2018 Farm Bill will be replaced by the intoxicating synthetic cannabinoid derived from hemp that is being offered to consumers on the market as CBD. “In major states, and in many cases, non-addictive CBD products are being unfairly captured,” the coalition said in a press release.
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