OH, the farm bill is going to change or revise bank regulations and easing limitations for hemp companies. Sure, sure.
And again, what revised bank regulations and easing limitations are you talking about? What revisions EXACTLY.
The 2023 Farm Bill debate continues to evolve in our nation’s capital amidst a lot of political challenges. The farm bill is a massive comprehensive piece of legislation covering everything from farm programs, conservation, rural development, forestry, trade promotion, nutrition, and even ag research and education. Generally, the farm bill comes before Congress every 5 years, with the current (2018) farm bill set to expire on September 30, 2023.
I believe they recently postponed till next year or at the end of this year. Will need congress to pass whatever they come up with. Very little in the farm bill to do with hemp, yes, it’s in there but who know what they will push thru.
But what ever they work out in the farm bill they still need to get the FDA to sign off on their own issue with cbd. But in regards to cbd the FDA has referred this back to the congress for proper classification. ““We have not found adequate evidence to determine how much CBD can be consumed, and for how long, before causing harm,” FDA principal deputy commissioner Janet Woodcock said in a statement. after careful review, the FDA has concluded that a new regulatory pathway for CBD is needed that balances individuals’ desire for access to CBD products with the regulatory oversight needed to manage risks.” The agency said that it would work with Congress to develop a new cross-agency regulatory framework for the substance”
FDA also has been assigned by the HHS to study the effects of sch 1 to sch 3 on MJ. The DEA is also doing their own study, unknown time frame there. Will need congress to be involved as well.
The bottom line is congress is going to be very busy trying to get all of this passed, and there is no way of knowing what will be passed and what will be left off the plate.
Also LOL, with the government likely going to shut down at the end of the week, might just delay a few things.
Bearish
