Now, it’s clear for hemp producers what they’ll be required to do by the U.S. Department of Agriculture (U.S.D.A.). The new requirements make up part of its hemp regulation program. Let’s move forward to discover more about the program and find the right high risk credit card processing for your business.
U.S.D.A. Licensing Regime: High Risk Credit Card Processing
The 2018 Farm Bill allows each state to exercise primary jurisdiction over the hemp production regulation. Meaning, the given state can write its rules concerning how one can get a license, maintain records, and test the levels of T.H.C.
On October 29, the U.S.D.A. established the U.S. Domestic Hemp Production Program with the help of an interim final rule issuance. The latter is known as the Rule. It went into effect upon publication.
The mentioned regulations imply that the industry can get the necessary guidance. On the other hand, stakeholders in the space are concerned about certain issues. What about your business? Do you need help with merchant services? If yes, just consider turning to a respectable payment processor in the high risk field that knows the ins and outs of your business best of all.
With a true high risk specialist, you can get easy access to the high risk credit card processing you need. Make sure the rates are among the cheapest and the approval is among the easiest.
Hemp Industry: Interim Regulations
Till now, those involved in the hemp industry have relied on the 2014 Farm Bill. The latter allowed for creating pilot programs concerning hemp research.
Now, the rules will have provisions for the U.S.D.A. so that hemp production plans can be approved. These plans were created by states and Native American tribes, including requirements for:
- Keeping information on land where hemp is produced
- Testing delta-9 tetrahydrocannabinol (T.H.C.) levels
- Plant disposal if it doesn’t meet the necessary requirements
- Licensing requirements
To sum up, the U.S.D.A. has recently introduced its interim regulations concerning the U.S. Domestic Hemp Production Program. These regulations took effect upon publication and won’t lose their force till November 1, 2021. With all this in mind, find a respectable high risk merchant services provider to work with.
Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest-rated high risk merchant account processor in the country that offers the most reliable and cheapest high risk credit card processing. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.