Most readers are likely aware that MJ companies are not eligible for proceeds from the Cares Act. MJ is only legal on a state by state basis, but federally illegal, and therefore not eligible for government support. Hemp’s historical ties to marijuana have created serious headwinds for the fledgling industry. Hemp farmers were forced to obtain a DEA permit to import seeds just one year ago.
Policy has done much to separate hemp from MJ, as witnessed with the policy changes following the Big Sky trucking case in Idaho. Idaho prosecutors have strict interpretations of already strict MJ laws in the state. Within weeks of the IFR release by the USDA, Idaho Governor Brad Little issued an executive order outlining requirements for transporting hemp through the state.
Banking was also supposed to adjust to the new legal…
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