Changes to hemp regulations are already starting to make a difference
Congress recently approved the 2018 Farm Bill, which will lead to hemp production becoming legal in the U.S. All that remains is for President Trump to sign off on the bill and he has said that it will more than likely be signed this week. In anticipation of that momentous change in the country’s marijuana regulations, one company isn’t wasting time and has already signed an agreement to accept credit cards from a U.S. bank.
In a press release from today, HoneyColony, an online health and wellness magazine and marketplace, now gives its customers the ability to purchase products with plastic. It has signed a deal that will allow it to accept Visa, MasterCard, Discover and American Express cards.
The company’s founder and CEO, Maryam Henein, points out that it has been a difficult road to get to this point, stating, “I refer to 2017 as The Year Of Playing Whack-A-Mole.” The company was shut down by merchant processors because of federal restrictions, leading to almost $250,000 in losses. Adds Henein, “I, meanwhile, was banned for life by PayPal, censored from YouTube, and conned by criminals. All because of CBD from hemp.”
This will all change because of the Farm Act and HoneyColony is working diligently to ensure that it is on the front lines of the changing industry. Henein feels that the company is poised to be a leader in the cannabis market, stating, “Today, everyone and their mother is selling CBD oil. However, most don’t consider the necessary criteria to make an excellent product, such as sourcing (organic is a must since cannabis is a phytoremediator used to clean the soil of radiation and heavy metals), extraction techniques, isolate vs whole plant synergy, and delivery methods.”