Federal financial regulatory agencies are clarifying that banks no longer have to take extra steps to track accounts for hemp-related businesses.

Before hemp and its derivatives were federally legalized under the 2018 Farm Bill, financial institutions were required to file suspicious activity reports (SARs) for accounts associated with the crop because it was a Schedule I controlled substance treated the same as marijuana.

Click here to read the complete article

Kyle Jaeger ~ MarijuanaMoment.net

Recent News Articles

Wednesday November 06

USDA Releases Video Explainer On Its Draft Rules For Hemp - Cannabis News

in CBD & Hemp

by Bruce Kennedy - Editor in Chief

The U.S. Department of Agriculture (USDA) released a recorded webinar on Tuesday to help guide…

791 hits

Wednesday November 06

Canadian Study: Cannabis could help treat depression in people with PTSD - Cannabis News

in Medical News

by Bruce Kennedy - Editor in Chief

Could cannabis hold the key to treating depression in people with post-traumatic stress syndrome (PTSD)?

1991 hits

Wednesday November 06

Two Cannabis Hotels Are Coming to Coachella Valley - Cannabis News

in Travel

by Bruce Kennedy - Editor in Chief

A wellness-focused Coachill Inn Resort in Desert Hot Springs is slated to bow in December…

2023 hits

Wednesday November 06

Hemp-Based Construction Materials Are Building Sustainable Homes - Cannabis News

in Hi-Tech

by Bruce Kennedy - Editor in Chief

“Hempcrete is mold proof, nontoxic, fire-resistant, biodegradable, and, unlike fiberglass installation, it doesn’t use chemicals…

1981 hits

Thursday November 07

What Tuesday’s Elections Mean For State And Local Marijuana Reform - Cannabis News

in Politics

by Bruce Kennedy - Editor in Chief

Tuesday’s state and local elections across the U.S. saw several gains for the marijuana reform…

1608 hits