Here is the latest CBD news from this week:
- A clinical trial in Poland has found that topical CBD relieves muscle pain.
- Federal agencies have issued pro-hemp banking guidance.
- A major Canadian cannabis company has launched hemp-derived CBD products in the US.
Polish Clinical Trial Finds Topical CBD Relieves Muscle Pain
Sixty patients with temporomandibular disorders (TMD) participated in the study.
TMD can cause pain in the jaw joint and surrounding muscles, as well as trouble with jaw movement.
The 60 patients were randomly split up into two groups: Group1 and Group2.
Group1 received the transdermal CBD treatment, while Group2 used a placebo.
The participants were told to use their respective treatments twice a day for two weeks.
To analyze the results, researchers measured masseter muscle (cheek muscle) activity and pain intensity.
In the CBD group, researchers found an 11% decrease in the right masseter muscle and 12.6% in the left, compared to 0.23% decrease in the right and 3.3% in the left for the placebo group.
Pain intensity in the CBD group decreased by 70.2%, while the placebo group only had a 9.81% reduction.
The researchers concluded: “Further research is needed in this field, but CBD, as an alternative for THC, should be taken into consideration in the therapy of masticatory muscles in patients with TMD.”
Federal Agencies Loosen Banking Restrictions on Hemp Businesses
Federal agencies have issued pro-hemp guidance, confirming the legality of hemp and clarifying to banks that they no longer need to file suspicious activity reports when dealing with related businesses.
Before hemp’s legalization under the 2018 Farm Bill, banks were required to file such reports
Four federal agencies—The Federal Reserve System, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network (FinCEN), and the Office of the Comptroller of the Currency—along with the Conference of State Bank Supervisors released a statement to clear up the confusion earlier this week.
“The statement emphasizes that banks are no longer required to file suspicious activity reports (SAR) for customers solely because they are engaged in the growth or cultivation of hemp in accordance with applicable laws and regulations. For hemp-related customers, banks are expected to follow standard SAR procedures, and file a SAR if indicia of suspicious activity warrants,” says a joint press release about the statement.
The memo also provides information about the USDA’s interim final rule on hemp production, which FinCEN will give further guidance upon once it finishes reviewing the USDA’s plan.
According to the US Hemp Roundtable, the hemp industry’s most prominent advocacy organization, the updated guidance further highlights the differences in banking requirements for hemp and marijuana businesses.
While the Roundtable celebrated the move, it also warned that there was more work to do to open up commerce for the industry.
“To be clear, today’s guidance does NOT require banks or financial services companies to engage with hemp businesses, nor is there any specific mention of hemp-derived CBD or businesses that engage in that commerce,” said the Roundtable in an email to its supporters. “Full passage of the pending SAFE Banking Act is still critical to further open up hemp and CBD commerce to financial institutions and credit card companies.”
The SAFE Banking Act primarily protects banks that work with marijuana businesses from federal penalties, but it also has protections for banks working with hemp and CBD companies.
The legislation passed the House 321-103 in September 2019; however, it will likely face more opposition in the Senate.
Canopy Growth Launches Hemp-Derived CBD in the US
Canopy Growth, one of the most prominent Canadian cannabis companies, has launched hemp-derived CBD products in the US under the brand name “First & Free.”
The Canadian producer owns several brands, and recently unveiled new products for Cannabis 2.0 in Canada.
First & Free is the company’s first US-based brand, and it currently ships products to 31 states in the nation.
All of the brand’s products are made from CBD isolate, a hemp extract that essentially removes all other cannabinoids—including THC—and plant material from the oil.
According to the First & Free website, the brand is “fully committed to innovation and research.”
The brand claims to have filed 54 provisional patents, 14 investigator-initiated clinical trials planned and ongoing, 16 therapeutic trials planned and ongoing, and 2000+ patients to be enrolled in the studies.
As for their products, First & Free offers drops, softgels, and will eventually sell topicals.
Canopy Growth has had a busy year, acquiring US cannabis company Acreage Holdings for $3.4 billion and starting construction on a hemp industrial park in New York.