Hemp
The U.S. Treasury Department Financial Crimes Enforcement Network (FinCEN) is issuing guidance to address questions related to Bank Secrecy Act/Anti-Money Laundering (BSA/AML) regulatory requirements for hemp-related business customers. It explains how financial institutions can conduct due diligence for hemp-related businesses, and identifies the type of information and documentation financial institutions...
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The Hemp Industries Association (HIA) has hired Jody McGinness as its new executive director. The position has been empty since the departure of Colleen K. Lanier at the end of 2019 after a 3-year period. "It was an exhaustive process with nearly 100 very qualified applicants," said HIA President Rick...
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Farmers who are contemplating growing hemp as a commercial crop can learn about the new federal and state regulations, legal compliance, production and potential financial risks through a free University of Vermont (UVM) Extension webinar series this summer and fall. The UVM Extension Northwest Crops and Soils Program and the...
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The National Industrial Hemp Council (NIHC) and The Hemp Industries Association (HIA) have entered into an agreement to work together to explore the creation of a marketing checkoff program to promote hemp. USDA checkoff programs seek to promote farm commodities and expand market opportunity for farmers, importers, and industry stakeholders....
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Under the USDA’s Interim Final Rule, published October 2019, all state pilot programs will end October 30, 2020. This includes the pilot program that we are currently operating under in North Carolina. By all accounts, we will still continue to have a licensing program in North Carolina, but what is...
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Green Point Research (GPR), an international phytocannabinoid-rich biomass originator and processor, has established a partnership with Palmetto Industries International. Inc. to develop and design a new industry-standard hemp storage bag that prevents mold and mildew. As the nascent hemp industry prepares for significant growth in the near future, establishing operating...
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The Hemp Industries Association (HIA) announces the appointment of two new board members. "Today is an exciting day for the HIA, as we welcome two well qualified Board Members," said Rick Trojan, Hemp Industries Association President. "Tim's vast experience in cannabis science and international business, coupled with Todd's knowledge and...
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Penn State Extension will host a webinar, "Reducing Financial Risk in Hemp Production," on June 29 as part of its hemp webinar series. Hemp production may fit well into your business model but it is a new crop and poses some challenges to access markets and develop budgets that account...
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