U. S. regulatory agencies have issued a total of 31 warning letters to dozens of American companies after they made false claims that CBD products can help with COVID-19. Laguna Beach, Indigo Naturals, and Algoma are among these companies. They posted on social media claiming that cannabis can mitigate, prevent, treat, diagnose, or cure COVID-19 to promote their CBD products.
Since the Communist Party took power in 1949, China has been taking a hard line on the use of marijuana and other forms of illegal drugs, with traffickers facing the death penalty in extreme cases, but surprisingly it is becoming a hemp superpower with its huge production and export of the potential lucrative plants.
Many countries in the Asia-Pacific region have eased their grip on the use of marijuana in recent years. This prompts many investors to wonder whether cannabis will be next hit in the investment business. VapeBiz hold that CBD products are set to be legal and lucrative in Asia-Pacific, a region with a population of more than 4 billion, Click here to read our in-depth analysis.
Vaping giant Juul is considering to carry out a massive worker cut, and around 800 to 950 employees will lose their jobs, VapeBiz has learned.
Japan has cultivated hemp for thousands of years. In 2016, the country legalized cannabis with no THC. Most Japanese are gradually accepting CBD products, regarding it as part of their new lifestyles. With an aging population and consumption recovery, Japan, VapeBiz believes, is set to become one of the most potential CBD markets in the world.
Novel Coronavirus Exerts Negative Impact on Global Cannabis Industry, Despite Growing Demand for CBD Products
The world has been facing an unprecedented public health crisis since China declared that it had found the novel coronavirus earlier this year. Many industries have suffered from the new virus. Cannabis is no exception. Major hemp producers, including China and the United States, have halted some of their production to prevent the further spread of the new deadly virus.
Mexico will be the world’s third country to fully legalize marijuana, no matter the THC content, VapeBiz has learned. This could potentially open more business opportunities in the cannabis industry. Mexico does not currently allow hemp cultivation. It could take years for the Latin American country to set up regulations for how hemp and marijuana business can grow and sell cannabis products.