"It's important to understand that this Final Rule does not change the legal status of hemp derived CBD," said Eric Steenstra, Executive Director of the Hemp Industries Association. "Cannabidiol is not listed on the federal schedule of controlled substances, and the DEA has no authority whatsoever to impede the production, processing or sale of hemp products, including CBD products, grown under the Farm Bill. We urge consumers and businesses not to panic, and continue supporting the growth of the hemp industry in the U.S."
Generally, the HIA maintains that CBD products should be legally defined as supplements, not drugs or pharmaceuticals subject to DEA control. The CBD industry is one of the fastest growing sectors of the emerging hemp market in the U.S., and indeed worldwide. This DEA Final Rule is concerning to the industry, as it creates confusion in the marketplace among consumers and legitimate businesses alike, and may potentially result in federal agencies improperly treating legal products such as CBD oils, body balms and supplements as controlled substances. The Hemp Industries Association is monitoring this development closely, and is strongly considering legal action to protect the interests of its members and the hemp industry as a whole.
The Hemp Industries Association (HIA) represents the interests of the hemp industry and encourages the research and development of new hemp products. More information about hemp's many uses and hemp advocacy may be found at www.TheHIA.org and www.VoteHemp.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/hemp-industries-association-responds-to-dea-final-rule-regarding-marijuana-extracts-300381263.html
SOURCE Hemp Industries Association