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

Monday December 23

For many Ohio marijuana users, the grass is greener in Michigan - Cannabis News

in Cannabis News

by Bruce Kennedy - Editor in Chief

“I think Ohio is missing the boat,” the Cincinnati man said. “They could literally make…

3256 hits

Monday December 23

Israel to accelerate medical cannabis research with hi-tech incubator - Cannabis News

in World News

by Bruce Kennedy - Editor in Chief

A hi-tech incubator for the development of breakthrough medical cannabis technologies will be established in…

2963 hits

Monday December 23

Hemp Will Qualify For New Crop Insurance Pilot Program Next Year, USDA Announces - Cannabis…

in CBD & Hemp

by Bruce Kennedy - Editor in Chief

Hemp farmers in 21 states will be eligible for a new crop insurance pilot program…

2821 hits

Monday December 23

Are Weed Moms The New Wine Moms? - Cannabis News

in Culture & Arts

by Bruce Kennedy - Editor in Chief

Work, childcare and household demands with limited support mean that moms carry a heavy load,…

2936 hits

Tuesday December 24

Feeling Down This Holiday Season? Marijuana Might Help - Cannabis News

in Culture & Arts

by Bruce Kennedy - Editor in Chief

Many people experience stress or depression this time of year and research suggest cannabis could…

2750 hits