Although cannabidiol (“CBD”) has enjoyed immense popularity in the past couple of years, the hemp extract is still barely regulated in most territories. In the United States, different states have different CBD regulations, and the situation isn’t any different in Europe. However, the European Union has moved a step closer towards standard legislation after CBD was added as a cosmetic ingredient in the EU’s database.
The EU’s Directorate-General for Internal Market, Industry, Entrepreneurship, and SMEs added CBD to its CosIng guidelines as a cosmetic ingredient. This revision to the guidelines comes after the Court of Justice of the European Union (“CJEU”) ruled that under the UN Single Convention on Narcotic Drugs of 1961, cannabidiol extracted from the hemp plant in its entirety is not a narcotic. Consequently, the court ruled that CBD should be traded between the Union’s member states freely.
Before the revision, only synthetic CBD was allowed as a cosmetic ingredient. The CosIng guidelines are a database of cosmetic regulations that identify legal and illegal ingredients and define their functions and benefits. Now that CBD derived from the hemp plant has been added to the list, it can be used as a cosmetic ingredient as an anti-sebum, skin protectant, skin conditioner and antioxidant.
At the moment, CBD regulations differ wildly among member states, leading to a patchwork of regulation across the EU. For instance, some countries allow up to 1% THC in CBD cosmetic products while others are more punitive and do not allow any THC. On top of that, different countries also have different requirements for manufacturing, labeling and marketing CBD cosmetic products. This patchwork of regulations forces manufacturers and distributors to adhere to different rules and regulations in each country in which they transact, essentially preventing these companies from trading their goods freely within the European Union.
The CosIng guidelines may not be legally binding, but they serve as a guide for EU member states when they craft their own cosmetic product regulations. The guidelines aim to bolster the creation of standardized CBD regulations across the EU to allow free movement of CBD cosmetics. The revision is a small but definite step towards achieving a standard regulatory framework for CBD in the European Union. What is definitely legally binding on all member states, however, is the CJEU ruling that came out before the revision to the regulations.
Due to the historic ruling, all European governments that were keeping companies from marketing and selling CBD cosmetics will have to amend the cannabidiol regulations.
Still on the subject of CBD, lots of exciting innovations are happening in this space. An example is Grapefruit USA Inc. (OTCQB: GPFT). Grapefruit harnesses advanced science and technology to bring patented products to the cannabis marketplace. The company is revolutionizing the way people use THC, CBDs and hemp-derived CBDs while also capitalizing on the surging demand for these unique products.
NOTE TO INVESTORS: The latest news and updates relating to Grapefruit USA Inc. (OTCQB: GPFT) are available in the company’s newsroom at http://cnw.fm/GPFT
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.CNW420.com
Do you have questions or are you interested in working with CNW420? Ask our Editor
CNW420 is part of the InvestorBrandNetwork.