Lawmakers moved to lengthen the window the hemp industry has to come up with a regulatory scheme before a congressionally-approved ban on most hemp cannabinoids goes into effect.
As of now, there is less than a year until a ban on most hemp cannabinioid products goes into effect, but the industry and Congress are looking at fixes.
An executive order by President Trump has directed the US Attorney General to expedite the rescheduling process. He has also signaled his administration is open to regulating -- not banning -- hemp-derived cannabinoids.
Industry experts propose regulation over outright bans, urging Congress to craft a viable framework for the $30 billion hemp market instead of pushing it toward collapse.