Staff, Author at Hemp Market Report

StaffNovember 30, 2020

Editors Note: This is a guest post.

It is perfectly fine not to know where to start when it comes to buying CBD products online. As CBD has recently gained popularity across the globe, most people aren’t quite aware of the market yet. Over the past decade, many new companies and brands have come into existence that manufactures and sell CBD products and is managing to grow exponentially.

Today, a simple search on the internet will expose you to hundreds of brands that sell CBD products. If you are a first-time buyer, it is natural for you to find it challenging to locate a trustworthy company to source your CBD products.

In order to make the search easier for you, we are going to list the top brands in the market where you can expect to find quality CBD products that offer therapeutic benefits, suiting your individual needs.

Green Garden Gold

Green Garden Gold is a company that was founded in 2014. Headquartered in Texas, the company sources its raw materials from Colorado. The brand specializes in hemp oil extracts in the form of oral drops and tinctures, but you can also find options in CBD edibles, isolates, pain creams, and capsules. Additionally, the company is also famous for products that target weight loss, beauty, skincare, and pets.

With GMP certification, you can expect the products to be of top-quality. Even after ordering your product, you will be able to return it within 30 days with a full refund.

Endoca CBD

Specializing in hemp oil extracts, Endoca CBD is a reputed company that’s headquartered in Europe. However, the satellite and facilities offices are located in the United States. Established in 2006, the company sources its raw materials from Scandinavia.

Their journey started with manufacturing hemp oil drops, but they also manufacture a variety of CBD products, ranging from skin balms, crystals capsules, chewing gums, creams to capsules.

Green Gorilla

Green Gorilla came into existence in the year 2013, when the company sourced its raw materials from Denmark. Recently, they have expanded and growing their own hemp plants.

Though specializing in pure CBD oil, you can expect to find a plethora of options on CBD topicals and whole plan CBD oils. Additionally, some of the products Green Gorilla produces are also meant for horse and pet care.

With every batch the company produces, a Certificate of Analysis will be posted on the website. It allows users and buyers to refer to them whenever they want to verify the quality of the CBD products online.

Bluebird Botanicals

If you are looking for one of the top CBD brands of today, Bluebird Botanicals will be there on the list. Awarded as #1 Hemp CBD Company in 2016, you can expect the quality of products and services to be the best.

The company was founded in 2012, with its headquarters in Colorado. The brand specializes in Hemp and CBD Concentrated Extracts. You will find the products in two strength levels – 1500 mg and 25 mg. Additionally, the brand also produces hemp capsules, isolates, vaporizers, and CBD for pets.

Plus CBD Oil

If you are looking for a company specializing in CBD oil sprays and drops, this European-certified brand is the one for you. Plus CBD oil was launched in 2014, which primarily focuses on CBD capsules, sprays, and drops. With a strength level that ranges from 1 mg to 3 mg, these products are known to be perfect for beginners.

Over the years, the company also started manufacturing CBD soft gels, balms, applicators, gummies, etc. All of these products come in higher strength levels and potencies.

The company currently has two headquarters—one in Las Vegas, Nevada, and the other in San Diego, California.

Green Roads CBD

In the last two decades, Green Roads is supplying CBD products and ruling over the online market. After sourcing their raw materials from Colorado, the brand creates unique formulae for every product. Headquartered in Florida, the company offers a supply of various CBD products, such as oils, edibles, syrups, capsules, terpenes, creams, concentrates, and daily doses.

Hempworx

When it comes to the youngest CBD brands in the market, Hempworx is one on the top portion of the list. Though it is one of the youngest names, the company has become quite successful in supplying awesome CBD products.

Despite specializing in CBD Hemp Oil Herbal Drops, the company offers several other products that come in the form of CBD pet treats, icy pain creams, collagen creams, and anti-aging creams.

Diamond CBD

The company made a formal appearance in 2016 and managed to spread love in the community in a very short span. It has a significant presence on both online and media platforms, which is the reason why you will see many renowned personalities and celebrities using their products.

With a wide range of options in CBD products, you can expect to find CBD drinks, vape oils, edibles, creams, and dabs at their online portal.

Closing Thoughts

Though many other companies have a good reputation in manufacturing and selling CBD products, these are the eight brands that topped our list. As a beginner, you will not be disappointed if you shop from their portals to get the most out of CBD.

StaffNovember 23, 2020

Canopy Growth Corporation (NASDAQ: CGC) and its medical division, Spectrum Therapeutics, have completed and published a new study on the long-term effects of cannabidiol (CBD), specifically focusing on toxicity and lifespan effects of CBD in the preclinical model C. elegans. The study was conducted in partnership with NemaLife Inc. and is published in Cannabis and Cannabinoid Research journal.

“Despite widespread use of CBD, no life-long toxicity studies had been conducted to date to determine the impact – or potential impact – of long-term exposure to CBD,” shared Hunter Land, Senior Director of Translational and Discovery Science at Canopy Growth. “These results serve as the only CBD life-long exposure data in an in vivo model to date, and the absence of long-term toxicity gives us the evidence we need as an industry to continue researching the potential health benefits for the broader application of CBD.”

Study Results

Acute and long-term exposure studies of CBD at physiologically relevant concentrations were studied in the worm model Caenorhabditis elegans (C. elegans) on the basis that 60-80% of their genes are shared with humans, and their comparatively short lifespan of 2-3 weeks makes such studies feasible. In the C. elegans model, which is recognized as a valid model for this kind of research, CBD did not demonstrate any degree of acute or life-long toxicity or related liabilities at physiological concentrations. Instead, CBD extended the mean lifespan up to 18% and increased late-stage life activity by up to 206% compared to the untreated controls within the study.

The company said the study was commissioned to evaluate the solubility, stability, acute toxicity, thermotolerance, and effects on the lifespan of CBD in C. elegans as part of Canopy Growth’s ongoing commitment to providing the data required to support and influence public policy through research. To the best of the Canopy’s knowledge, this study represents the first long-term toxicity and lifespan research regarding the effects of chronic exposure to cannabidiol – one of the cannabinoids found in cannabis.

While further research into the life-long use of CBD should be carried out in mammalian models, the C. elegans model indicates a lack of long-term toxicity at physiologically relevant concentrations. Canopy Growth and its medical division Spectrum Therapeutics continue to advance a range of research initiatives aimed at furthering the understanding of – and unleashing – the full potential of cannabis.

StaffOctober 28, 2020

JRA Architects, Inc. is proud to announce the first successful LEED Platinum certification for a warehouse and hemp facility, presented by the U.S. Green Building Council to Ecofibre’s state of the art hemp processing facility in Georgetown, Ky. More remarkably, an exacting design, build and certification process that would normally take upwards of three years was completed in just 18 months, despite some pandemic-related delays in material deliveries.

“This facility breaks new ground in so many respects, but it’s proof that modern design principles, strong teamwork and a willingness to innovate will always carry the day,” said Marty Merkel, Associate of JRA Architects. “It takes a great team to complete a project like this ahead of schedule, in the midst of a global pandemic.”

Australia-based Ecofibre’s 50,000 square foot facility is the first of its kind in Kentucky, a state that has warmly embraced hemp production and processing on the heels of its nationwide approval in the 2018 farm bill.

“Kentucky has exceeded our expectations in every respect, from governmental support for economic development to professional experts like JRA and their teammates who guided us through the entire process,” said Eric Wang, CEO of Ecofibre. “This LEED Platinum facility is a great objective affirmation of our company’s desire to do things the right way economically and environmentally every time.”

According to Ralph Whitley, Principal Engineer at Shrout Tate Wilson, Ecofibre prioritized LEED and energy efficiency from the team’s first official conversation in February 2019.

“From day one, Eric was talking about the importance of energy efficiency and sustainability, applying it to every decision, ranging from the selection of JRA’s proposed design to the discussion of adopting solar power to offset the load from hemp-specific needs like clean rooms,” said Whitley. “Ecofibre’s enthusiasm for LEED streamlined the decision-making process and allowed us to leverage our energy modeling capabilities effectively and efficiently.”

LEED stands for Leadership in Energy and Environmental Design, an internationally recognized green building certification system providing third-party verification that a building was designed and built sustainably with low environmental impact. In pursuit of that certification, the Ecofibre facility’s design incorporates a wide array of resource-efficient technologies, ranging from solar panels and nearly 70 light-channeling solar tubes to geothermal and water capture for flushing in the bathrooms. A rigorous building commissioning process led by Paladin, Inc. served to further improve efficiency.

“The process of completing any LEED certification is incredibly complex and preparing a building owner to reap its benefits over time requires precise documentation and operating policies,” said Candice Rogers, president of Lexington-based Paladin, Inc. “Done right, LEED becomes a lifestyle of its own, with the upsides of sustainability enjoyed for the long haul.”

The building also won points on the USGBC’s detailed checklist by incorporating into its various finishes an array of fabrics grown, processed and woven on the premises.

“While the LEED criteria are rooted in environmental concerns, they ultimately have a great impact on a company’s bottom line,” concluded Marty Merkel of JRA. “This remarkable project may be the first hemp facility to clear the LEED Platinum hurdle in the U.S., but I’m very confident it won’t be the last.”

StaffOctober 21, 2020

Editors Note: This is a guest post.

Humans and hemp have a long history of harmonious cultivation, with hemp often cited as the first plant to be used as a textile. This usage, along with countless others that include everything from beauty products to medicine, creates a historical narrative that dates the first use of hemp as cloth back to around 8,000 BC and the modern-day area of Iraq and Iran – previously known as Mesopotamia.

Hemp is said to have arrived in Europe from China in approximately 1,200 BC, before spreading widely throughout the ancient world in various employments, many of which continue to our present day.

A modern-day staple

Cut to today and hemp is used for a range of commercial and industrial products that include a wide range of textiles, shoes, food, paper, rope, bioplastics, insulation, and biofuel. Elsewhere, CBD is being extracted from the plant to produce high-quality oils and other products for individual consumption.

The United States has nearly a 100-year history of legalizing the use of marijuana, with the first Marijuana Tax Act coming into effect in 1937.

Since then, the growing market for marijuana products has given rise to a whole industry of hemp farms across the USA. Cope CBD, a high-CBD hemp farm in Colorado, is just one example of a hemp farm that product manufacturers can purchase industry quality CBD from and create their private brands.

Is hemp environmentally friendly?

With hemp continuing to be in high demand, questions surrounding its sustainability as a pioneering crop are raised. Yet, thankfully, hemp stands up to the test.

In comparison with cotton, which contributes to around 50% of the world’s pesticides and herbicides use, hemp needs no additional protection and requires a much more moderate use of fertilizer.

Hemp is not only gentle on the earth, but lives in accord with it, returning an estimated 60% – 70% of the nutrients it takes back to the soil. The plant is also frost resistant, making it perfect for growing in all 50 USA states and a conscientious choice for product makers.

In comparison with other crops, one acre of Hemp produces as much fiber as two to three acres of cotton annually. This valuable reduction in space makes hemp a cost-effective alternative to its textile cousin, cotton, as well as being environmentally friendlier since it uses less water as well. Hemp uses roughly 50% less water than its cotton counterpart and produces up to double the amount of fiber than the same amount of cotton.

A crop for a brighter future

With such benefits in mind, hemp looks set to become mainstream as consumer pressure continues to see manufacturers move towards more sustainable and greener options. From an environmental and economic perspective, hemp appears a clear winner for a more ethical choice.

StaffOctober 13, 2020

The Hemp Industries Association and a South Carolina-based hemp company, RE Botanicals, filed a new federal action today aimed at clarifying the scope of the 2018 U.S. Farm Bill. This is the second federal action taken by the plaintiffs, who last month filed a petition for review of the DEA’s August 21 interim final rule (IFR) in a federal appeals court.

The complaint for declaratory and injunctive relief filed Monday afternoon in the U.S. District Court for the District of Columbia alleges the DEA is unlawfully attempting to regulate certain products derived from lawful hemp by misinterpreting the Agriculture Improvement Act of 2018, also known as the 2018 Farm Bill. Specifically, the DEA classifies intermediary hemp material (IHM) and waste hemp material (WHM), two necessary and inevitable byproducts of hemp processing, as Schedule I controlled substances. The plaintiffs argue that Congress deliberately removed such commercial hemp activity from the DEA’s jurisdiction when it legalized hemp production, including hemp processing, via the 2018 Farm Bill.

The DEA’s interpretation of the 2018 Farm Bill “has serious, immediate, and irreparable consequences,” the complaint states. “[A]ll hemp processors and manufacturers who work with and/or store IHM and/or WHM must now choose between ceasing to process, manufacture and/or store hemp; obtaining a Schedule I license from DEA; or risking criminal prosecution under the [Controlled Substances Act]. Given the centrality of hemp processing to the hemp industry’s supply chain, forcing processors to choose between the foregoing options would effectively destroy the entire hemp industry.”

The plaintiffs ask the court for a judicial determination that (1) the definitions of hemp and THC in hemp in the 2018 Farm Bill includes IHM and WHM, and that such materials are therefore not controlled substances; and (2) the DEA lacks any independent authority to regulate any aspect of hemp production, including IHM and WHM.

“The explanatory language accompanying the text of the IFR…reveals that DEA has an understanding of the definition of ‘hemp’ that is contrary to the 2018 Farm Bill’s plain language (and Congress’ intent) and effectively sweeps hemp into DEA’s purview,” the complaint states.

The plaintiffs are also seeking an injunction (1) enjoining the DEA from enforcing the CSA as to IHM and WHM and from classifying such materials as Schedule I substances, and (2) preventing the DEA from promulgating any rules relating to the production of hemp.

The complaint highlights the DEA’s nearly two-decade history of unlawful attempts to improperly assert regulatory authority over legal hemp products outside its jurisdiction.

“DEA’s latest jurisdictional overstep threatens every stage of the hemp production supply chain and jeopardizes the entire hemp industry,” according to the complaint. “If allowed to stand, DEA’s intrusion will undermine a lynchpin of the new hemp economy that has created tens of thousands of new jobs and provided a lucrative new crop for America’s struggling farmers.”

The Hemp Industries Association is a trade association that represents approximately 1,050-member hemp businesses, including approximately 300 hemp processors and individuals involved in, or impacted by, the manufacture, distribution and/or sale of hemp extract and other products lawfully derived from hemp.

RE Botanicals, Inc. is a hemp manufacturer and retailer based in South Carolina. In 2019, it acquired Palmetto Synergistic Research LLC (dba Palmetto Harmony), which was founded to provide lawful, reliable, and high-quality hemp products.

The plaintiffs are represented in the district court action by leading hemp industry attorneys at Vicente Sederberg LLP, Kight Law Office PC, and Hoban Law Group.

StaffAugust 18, 2020

The Hemp Benchmark recently released its July 2020 report reviewing wholesale prices for the hemp industry. The group found that price assessments in recent months have shown stabilizing rates for numerous wholesale products that are part of the hemp-CBD supply chain. “For example, from April through this month the aggregate price for CBD Biomass and wholesale prices for smokable bulk CBD Flower have both steadied. While the downward trend in CBD product prices has largely subsided in recent months, that for CBG biomass and extracted forms of the cannabinoid has continued.”

Crop Declines

Hemp Benchmarks also found that the 2020’s licensed acreage declined by over 30% from last year, while indoor and greenhouse square footage registered for hemp cultivation is down by roughly 64% year-over-year. “These numbers bear out what we have reported earlier this year, that many farmers are taking a more conservative approach to cultivation, if not exiting the sector entirely. The just over 18,000 cultivation licenses that we have counted nationwide to this point in 2020 represents about an 8% decline compared to the over 19,500 recorded in 2019. This indicates that most growers registered smaller outdoor plots or indoor / greenhouse sites.”

The report also said that overall, the reduction in licensed acreage, entrance of a significant amount of new farmers, tough market conditions, and difficulties related to the COVID-19 pandemic suggest that total U.S. hemp production for 2020 could decline substantially year-over-year, particularly in regard to how much CBD or other cannabinoid-rich biomass is generated.

“In our June report, we analyzed data on costs to transport hemp and hemp products. We also pointed out that such costs can change based on a variety of factors. This month, hemp transportation costs were on the rise in July due to fallout from the COVID-19 pandemic.” Jon Wilcox, co-founder of hemp transportation company Fide Freight, attributes the rise in shipping costs to states across the country reopening after coronavirus-motivated shutdown orders. He stated, “It is assumed that shippers are trying to make up for lost time and … make as much money as possible due to short-term uncertainty.”

Additionally, U.S. ports are overloaded with goods that shippers are trying to move. This has resulted in bidding wars for trucks.

StaffJuly 22, 2020

The U.S. House of Representatives has approved a measure from Rep. Tulsi Gabbard, D-Hawaii, as part of an amendment package to the National Defense Authorization Act that passed the House late Monday on a bipartisan vote of 336-71.

The amendment says, “The Secretary of Defense may not prohibit, on the basis of a product containing hemp or any ingredient derived from hemp, the possession, use, or consumption of such product by a member of the Armed Forces” as long as the ingredients meet the federal definition of hemp.

Active service members had been denied the use of products made from hemp, including CBD, regardless of the product’s THC concentration, according to a February memo from the U.S. Department of Defense. the DOD said this was due to the inability of drug testing to differentiate between hemp-derived CBD products and THC marijuana products, which are federally illegal.

“If there are any Americans who most deserve access to wellness products such as CBD, it’s our brave, selfless troops,” the U.S. Hemp Roundtable said in a statement. “Let’s make sure that the men and women who risk their lives for our freedoms have the freedom to use quality, legal hemp products.”

Gabbard is a military veteran and a hemp advocate in Congress. In July 2019, she introduced the Hemp for Victory Act, which called for more research into the applications of hemp. It was referred to the subcommittee on health. That proposed bill was inspired by a World War II-era government film that encouraged farmers to grow hemp for the war effort.

Law360 gives Gabbard an A+ rating when it comes to cannabis. The site wrote, ” Since assuming office in the U.S. House of Representatives in 2013, Gabbard has introduced, signed and voted for numerous bills related to marijuana. In 2017, Gabbard co-sponsored the Ending Federal Marijuana Prohibition Act, a bipartisan bill which, if passed, would remove marijuana from the controlled substances list. The following year, Gabbard introduced the Marijuana Data Collection Act, a bill that would direct the U.S. Department of Justice to research the effects of marijuana legalization. Gabbard hoped that this research to “dispel myths and stigma” surrounding marijuana.

This year, Gabbard has co-sponsored The Marijuana Justice Act, which would deschedule marijuana if passed, and the VA Medicinal Cannabis Research Act, which would direct the Department of Veterans Affairs to research the therapeutic benefits of marijuana.

StaffJuly 21, 2020

Charlotte’s Web Holdings Inc. (OTC:CWBHF) unveiled “part three” of its groundbreaking “Trust The Earth” campaign. Originally launched in October 2019, the “Trust The Earth” campaign was created to break down barriers by opening up doors of access to the power of hemp for health.

Now, Charlotte’s Web is continuing to use its voice, public art, the country’s landscape and its collaboration with Studio Number One, the creative agency founded by legendary artist Shepard Fairey,

Created in McPherson, Kansas, the 76-acre farm art installation features a massive rendering of a hand holding a hemp stalk and the call-to-action “Trust the Earth.” This ‘Trust The Earth’ farm field art will be ‘unveiled’ online officially on July 21, 2020. Studio Number One and Fairey’s original art was ‘grown’ and mown on 3,049, 200 square feet of farmland and the installation required one solo farmer mowing for one week using a GPS to guide the process. The final field art, installed by Precision Mazes, is so large that it required a local farmer’s plane to achieve enough height to photograph the entire Trust The Earth field art installation.

“This art is the visual and naturally living embodiment of Charlotte’s Web’s mission to unleash the healing powers of botanicals,” said Deanie Elsner, CEO for Charlotte’s Web. “And, we hope this inspires many to join us in fighting for sound federal and state regulations.”

“A farmer’s field is a place to cultivate life-changing ideas and grow a voice for those still seeking hemp-based wellness. Through this powerful artwork, we experience a coalition between earth and humanity, and our journey to create sustainable, natural wellness. In the case of hemp, revolutionary wellness. Our purpose is to ignite conversations that open access to hemp in all states that have yet to provide this choice,” said Jared Stanley, Chief Cultivation Officer and a co-founder of Charlotte’s Web.

“Whether it’s a mural in Brooklyn, a poster in your home, or a field in Kansas, Studio Number One understands the power of art to compel change. SNO worked with Charlotte’s Web to call on citizens to Trust the Earth,” Shepard Fairey.

The “Trust The Earth” campaign supports Charlotte’s Web’s on-going mission to open up access to hemp CBD, especially for those who depend on it for quality of life. Its purpose is to raise awareness of the need for improved and equal access to hemp-derived CBD products for everyone in every U.S. state. Founded in 2014, the Stanley Brothers set out to change perceptions about the health potential of hemp, forwarded laws, and inspired vital research.

The origin of the CBD movement was ignited by families, veterans, and farmers, desperate for a better way that solutions in nature. Now, the exploding CBD industry is inspiring the mainstream to consider hemp CBD, the life-changing compound that has been misunderstood for over one hundred years.

“This glorious field art celebrates everyone on Earth whose lives have been improved by hemp-derived CBD wellness products,” said Elsner. “Charlotte’s Web continues to lead the revolution and will continue to advocate.”

The Charlotte’s Web website is www.charlottesweb.com. The campaign platform is www.TrustTheEarth.com .

StaffJuly 15, 2020

Studies have shown CBD to target and affect cancer cells differently than normal healthy cells. Cannabis has been shown to prevent tumor growth, trigger cell death, prevent the formation of blood vessels that feed the tumor, and inhibit the metastasis of cancer from one part of the body to another.

Angela Ardolino is a holistic pet expert who has been caring for animals for over 20 years and operates a rescue farm, Fire Flake Farm, in Florida. She is also the owner of Beautify the Beast, a natural pet salon and shop. After getting her certificate in Medical Cannabis Biology and Therapeutic use from the University of Vermont School of Medicine, she founded CBD Dog Health to provide high quality, all-natural medical cannabis products designed specifically for pets.

Ardolino believes that Full Spectrum CBD will help the quality of life of the animal, especially while going through chemotherapy. Whether it’s nausea, pain, or insomnia, she suggests using this natural medicine will help your pet live comfortably.

She cites a study published in 2018 that found that CBD inhibits the growth of cancerous cells in mice with pancreatic and bladder cancer. Not only did CBD inhibit cancer cell growth, but it also proved to prevent future cancerous growths in the mice treated with CBD. The conclusion of this study noted that CBD could be a viable option to treat cancer in both humans and animals. Additional research concluded that “The antiproliferative and apoptotic effects produced by some of these pharmacological probes [CBD] reveal that the endocannabinoid system is a promising new target for the development of novel chemotherapeutics to treat cancer.”

Anxiety

“Whether it’s general anxiety, noise anxiety, or separation anxiety, Full Spectrum CBD is an incredible way to keep your pet anxiety-free, as opposed to something like Benadryl, which can put a strain on a dog’s liver and kidneys,” said Ardolino. “Unfortunately, anxiety due to things like thunderstorms and fireworks can lead to much more serious issues. In recent years, multiple reports have surfaced of older dogs and even puppies suffering heart attacks which lead to their death during fireworks displays. Additionally, during these noisy celebrations, there are increased incidents of dogs running through sliding glass doors or running away. In fact, more dogs are lost on July 4 and January 1 than any other days of the year.”

Dosing

Since many CBD companies are limited in what they can say on websites and labels, dosing causes great confusion with pet owners. “I suggest starting with 9-12mg and increase if needed. For situational anxiety like storms, you should see a difference within 15 minutes,” said Ardolino. “If you’re not seeing results, give more. For general anxiety, it should be given daily. Adjust the dose as needed until you find what works.”

Ardolino went on to explain that research shows that CBD works by interacting with the body’s naturally occurring Endocannabinoid System which is responsible for maintaining homeostasis in the body. CBD binds to one of your brain’s receptors called CB1. Within the brain, CBD can mimic serotonin by binding and activating your body’s 5-HT1A serotonin receptors. Often called the ‘happy’ chemical, these serotonin receptors are responsible for emotional balance.

Allergies

She added, “CBD and the other compounds found in a full-spectrum hemp extract are best known for their ability to bring the body’s systems into homeostasis. That’s just a fancy way of describing a state of balance.

There are tons of cannabinoid receptors throughout the organs that control our pet’s immune systems. Instead of completely turning off the immune responses, like Apoquel does, CBD increases communication between cells in the immune system, encouraging a more moderate and targeted response to allergy symptoms. “

Seizures

“If your dog is prone to seizures, your veterinarian may prescribe phenobarbital (PB) and potassium bromide (KBr or K-BroVet Potassium Bromide). However, these medications may have negative side effects and can cause further liver damage, which is why many pet parents are turning to full spectrum hemp extract (CBD oil),” she said.

CBD has been used by humans to treat seizures for years. In fact, in 2003, the U.S. government patented CBD as a neuroprotectant (despite the U.S. prohibition on cannabis). Because of the rise of hemp-derived CBD for pets, studies focusing on the effects of CBD on seizures in dogs is being studied now more than ever.

She suggested these blogs for ailments that she sees a lot of dogs suffering from and benefiting from the medicine most.

Cushings- https://cbddoghealth.com/can-cbd-help-a-dog-with-cushings-disease/

IVDD- https://cbddoghealth.com/can-cbd-help-ivdd-in-dogs/

StaffJuly 7, 2020

The Financial Crimes Enforcement Network (FinCEN) issued new guidance for banking requirements for hemp-related business customers. Fin CEN said that the clarification was intended to enhance the availability of financial services for, and the financial transparency of, hemp-related businesses in compliance with federal law. The new guidance supplements the December issued rules.

Nothing To See Here

Basically, the banks are to treat hemp businesses like any other since the 2018 Farm Bill legalized the growing of industrial hemp. Financial institutions are told to conduct customer due diligence (CDD) for all customers, including hemp-related businesses. Financial institutions should obtain basic identifying information about hemp-related businesses through the application of the financial institutions’ customer identification programs and risk-based CDD processes, including beneficial ownership
collection and verification, as they would for all customers. Financial institutions must also establish appropriate risk-based procedures for conducting ongoing CDD.

The banks are no longer required to file a Suspicious Activity Report (SAR) on customers solely because they are engaged in the
growth or cultivation of hemp in accordance with applicable laws and regulations. If the business is co-mingled with regular marijuana, then the company has to keep them separate and the banks would still need to file a SARS report on the marijuana business.

For customers who are hemp growers, financial institutions may confirm the hemp grower’s compliance with state, tribal government, or the USDA licensing requirements, as applicable, by either obtaining (1) a written attestation by the hemp grower that they are validly licensed, or (2) a copy of such license. The extent to which a financial institution will seek additional information beyond the steps outlined above will depend on the financial institution’s assessment of the level of risk posed by each customer.

Additional information might include crop inspection or testing reports, license renewals, updated attestations from the business, or correspondence with the state, tribal government, or USDA. In order to identify the risks posed, financial institutions must understand the nature and purpose of customer relationships for the purpose of developing a customer risk profile, and conduct
ongoing monitoring to identify and report suspicious transactions, including, on a risk basis, to maintain and update customer information.

As with any customer, FinCEN expects financial institutions to tailor their BSA/AML programs to reflect the risks associated with
the customer’s particular risk profile and file reports required under the BSA.

Any cash transactions over $10,000 still have to be reported as usual.

Newer Posts

Older Posts

Staff, Author at Hemp Market Report - Page 2 of 13

The Best New CBD Brands

New CBD Study By Canopy Growth Finds Increased Life With Use

Hemp Facility Gets First LEED Certification

How Sustainable Is Hemp?

A modern-day staple

Is hemp environmentally friendly?

A crop for a brighter future

Hemp Industries Files New Suit Against DEA

Hemp Prices Begin To Stabilize

Crop Declines

House Approves Hemp For Military Members

Charlotte’s Web Unveils Trust The Earth Campaign

New Research Backs CBD for Dog Use

Anxiety

Dosing

Allergies

Seizures

FinCEN Issues Updated Hemp Banking Rules

Nothing To See Here

Product Review: Motive CBD

Product Review: Cure Crate

Preliminary CBD Study Shows No Evidence of Liver Disease

Get the latest news delivered straight to your inbox!

You have Successfully Subscribed!