What New York State’s New CBD Regulations Mean for the $4.6 Billion Industry
Under the law, everyone involved in the production process—including the growers and manufacturers—will have to receive a license sanctioning their practices through the New York Department of Agriculture and Markets, reports the New York Daily News. Plus, they will be required to follow strict rules about labeling and testing their products. “The hemp industry in New York is exploding and with that growth comes a responsibility to regulate the industry in a way that helps ensure its long-term viability and protects consumers,” said Cuomo in a statement.
According to Anthony Saniger, founder and CEO of Standard Dose—a company that curates CBD-based products—the legislative move will pave the way to more informed consumers. "One of the reasons we were built as a company was we wanted to create standards for the brands that we carry," Saniger tells Well+Good. "We created our own set of standards and our own set of rules. The products that are going into consumers' homes need to be vetted, need to be curated, and they need to make sure that whatever they say on the packaging is true and actually works. Now, with New York state coming out with these rules, we're looking at what the legal requirements are for brands and we're trying to educate our brands on what they need to do to comply."
Mills McQueen, founder of Mineral, agrees. "The laws enacted by Cuomo and New York State follow the FDA's recent action [in the 2018 Farm Bill] to prohibit medical claims as it pertains to CBD. These laws are necessary to limit the number of dishonest products and brands in the space, which are currently in greater abundance than trusted, tested, and compliant products," says Mills. In short, Cuomo's regulations could kickstart a safer, more trustworthy environment for those interested in the purported benefits of CBD.
It's important to note that the new law does not specify rules for how CBD can be used in food and beverages, but the State of New York plans to host a summit in early 2020 to discuss further regulations that should govern the 4.6 billion dollar hemp industry.
While we're talking about CBD, here's why certain ingredients have been crowned wellness superheroes in the last 10 years. Plus, what it's like to work out in... CBD-laced leggings.
Loading More Posts...
