Federal Regulators Ease Hemp Banking Protocols Following Crop’s Legalization - Cannabis News
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.
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Kyle Jaeger ~ MarijuanaMoment.net ~