Business
Hemp Legalized in the United States with the Signing of the 2018 Farm Bill Paving the Way for Global Hemp Group and this Rapidly Emerging Industry
(via TheNewswire) Vancouver, BC / TheNewswire / December 27, 2018 -- GL...
About this update from Global Hemp Group, Inc.
[{"type":"text","content":"Hemp Legalized in the United States with the Signing of the 2018 Farm Bill Paving the Way for Global Hemp Group and this Rapidly Emerging Industry(via TheNewswire)\n \n \nVancouver, BC / TheNewswire / December 27, 2018 -- GLOBAL HEMP GROUP INC. (\"GHG\" or the \"Company\") (CSE: GHG / OTC: GBHPF / FRANKFURT: GHG) is pleased to report that the 2018 Farm Bill has now been signed into law in the United States making hemp legal at both the Federal and State level. This new law removes hemp from the Controlled Substances Act (CSA) and paves the way for the development of hemp as an agricultural commodity. Hemp can be used to produce a myriad of products from super foods to cannabinoid infused cosmetics, personal care products and beverages. In addition, there are a multitude of industrial solutions including textiles, carbon negative building materials, non-toxic biocomposites and much more.\n\n \n \nThis change in the legal status of hemp will directly and positively impact the development of GHG's 109-acre high yielding CBD hemp farm in Scio, Oregon and the Company's plans for expansion in the region. The law removes many uncertainties for the industry that will allow businesses like GHG to obtain the most basic business services that are enjoyed by every other industry which until now have been very difficult to obtain. It is expected that this new law will allow companies in the industry to operate more freely than they have been able to up to this point. \n\n \n \nThis long-anticipated Farm Bill allows farmers nationwide to cultivate hemp for any use, including cannabidiol (CBD) and other cannabinoid production. The definition of hemp has been redefined to include any part of the plant including all derivatives, extracts, cannabinoids. This will now mean that hemp-derived cannabidiol (CBD) will no longer fall under the regulatory authority of the CSA. \n\n \n \nOne of the most important outcomes of the new law is that businesses will soon be able to secure ordinary banking services without fear of having these relationships terminated. The hemp industry has been considered a high-risk industry in the banking community until now. With the passing of the Farm Bill, hemp is well on its way to becoming an agricultural commodity that farmers can generate far greater returns per acre than any other crop. Farmers will also soon be able...