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CBD Monthly Update — October 2019CBD Monthly Update — October 2019

We gathered the top CBD news from this month to keep you in the loop.

October 10, 2019

2 Min Read


SAFE Banking Act passes House

The U.S. House of Representatives voted to advance legislation that would allow banks to provide services to cannabis companies in states where it is legal. By a vote of 321-103, lawmakers approved the bill, which now heads to the Senate. The bill received nearly unanimous support from Democrats, as well as nearly half of all Republicans. Read more at Reuters...

CBD tops turmeric

With $52.7 million in sales, CBD became the best-selling herbal dietary supplement in natural sales channels in 2018, according to a new report from the American Botanical Council. Sales jumped 333% in natural and health food sales channels in 2018. Read more at Hemp Industry Daily...

17,000 acres of hemp—in China

Canadian company Pure Global Cannabis signed an agreement to grow the crop in the Yunnan province then export it to other markets for sale. CBD is not legal in China, which has some of the strictest drug-enforcement policies in the world, though the country is beginning to cash in on the cannabis boom. Read more at Hemp Industry Daily...

FTC names warned retailers

The U.S. Federal Trade Commission identified the four CBD manufacturers it flagged earlier this fall for unfair and deceptive advertising. The companies were warned to remove health claims from their marketing materials. Read more at Hemp Industry Daily...

Canopy invests in sports nutrition company

Canadian cannabis giant Canopy Growth has purchased a majority stake in Toronto-based BioSteel Sports Nutrition. The move empowers Canopy to “enter the sports nutrition space with a strong and growing brand as we continue toward a regulated market of food and beverage products that contain cannabis,” said Canopy CEO Mark Zekulin. Read more at Hemp Industry Daily...

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