What the 2018 US Farm Bill Means for Hemp
On January 1, 2019, the 2018 Farm Bill became law. The law will change the hemp economy forever. Here are the five need-to-know details of the new law as it relates to Hemp:
Removed from CSA – Hemp has now been removed completely from the Controlled Substances Act (CSA) and is as an official agricultural commodity. Think everyday vegetables and no longer mistakenly labeled as a substance in the same breath as marijuana.
Hemp redefined – Changing the overall category of hemp to include “extracts, cannabinoids, and derivatives” and removing it from the CSA, the DEA no longer has jurisdiction over the product. This is huge for hemp-derived cannabidiol (CBD) as it will be more freely available to sell, advertise and purchase. De-regulation also allows financial industries to work more closely with hemp products, providing massive opportunities for investment.
Protection for farmers – Those growing hemp en-masse will be able to get their crops insured sufficiently, and be eligible for USDA grants and certification.
Free trade – Although state governments may impose their own sanctions on hemp, they won’t be able to interfere with the transportation of hemp or hemp products.
FDA monitored – What needs to be applauded is the FDA’s stance and commitment to hemp products. While their regulation may be unwelcome to some, it means that whose not acting in the best interests of the customer will be punished. Hemp and CBD have some incredible qualities and there is an unfortunate amount of bad actors in the industry looking to dupe customers and give hemp a bad name. More reputable hemp companies working closely with the FDA should see rouge activity cease.
With the World Health Organisation and FDA declaring hemp—and CBD in particular—as safe, non-toxic, and non-addictive, we’re hopeful that CBD won't be withheld from Americans who count on it for their health and wellness.
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