The hemp plant reportedly has over 20,000 different uses, from rope and cloth, to building materials, to medicine, and much more. Despite hemp’s unique versatility, it currently gets the most attention for a single distillate: CBD.
While the SAFE Banking Act remains in limbo, the hemp industry received some long overdue good news regarding banking cannabis businesses from the National Credit Union Administration (“NCUA”) with the release of interim guidelines that allow credit unions to provide banking services, including loans, to legally operating hemp businesses. » Read More
Cannabis businesses are not immune to the harsh realities of any other business. In fact, they likely deal with even more difficult challenges than more traditional businesses. For example, most businesses—if not all—should have some form of insurance and, without insurance, a business’s only remedy may be to resort to and/or be subject to the court system.» Read More
Under the 2018 Farm Bill, CBD derived from industrial hemp falls outside the Controlled Substances Act, but CBD-infused food and beverages and dietary supplements must still comply with the Food, Drug, and Cosmetic Act and are subject to the authority of the FDA. » Read More
As we previously blogged, the last subsection of the Agriculture Improvement Act of 2018 (the “Farm Bill”) amended the Controlled Substances Act (the “CSA”) to exclude “tetrahydrocannabinols in hemp,” where hemp “means the plant Cannabis sativa L. and any part of that plant . » Read More
By now some of you may have heard about the truck driver that was arrested for transporting nearly 7,000 pounds of industrial hemp in the truck he was hauling from Oregon to Colorado. This simple case presents critically important legal and technological issues that will likely plague the legal cannabis industry for years to come: enforcement and testing.» Read More
As mentioned in our prior blog post here, on December 20, 2018, President Trump signed into law the Agricultural Improvement Act of 2018 (the “Farm Bill”). The bill de-scheduled hemp from being a federally controlled substance, and legalized hemp-derived cannabidiol (“CBD”) provided it meets the legal definition of industrial hemp. » Read More
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