The nation’s marijuana regulator has told financial institutions to treat the $500 million hemp businesses the same way they would any other businesses.
Last month, Volteface launched its most recent reform campaign, to allow British hemp farmers to benefit from the ever-growing CBD market. Most people, who have never looked into cultivating hemp, probably don’t realise the severity of the restrictions placed on the industry. So, we are outlining current UK hemp legislation and what this means to the industry.
Hemp legalization under the 2018 Farm Bill unleashed unexpected markets for the crop. One unexpected market: people are consuming hemp the way they often consume its higher THC cannabis cousin—by smoking it.
The state’s growers are sitting on a pile of surplus from the 2019 season, while they desperately wait for rules to guide the industry going forward.