A week ago, hemp advocacy organization the U.S. Hemp Roundtable sent a letter to the co-sponsors of the recently introduced Cannabis Administration Opportunity Act (CAOA) to carefully address some troubling provisions in the otherwise pro-cannabis-industry bill.
US Senators Chuck Schumer, Ron Wyden, and Cory Booker, who sponsored the bill, were asked in the letter by U.S. Hemp Roundtable General Counsel Jonathan Miller to address the following issues in the interest of establishing a healthy market for legitimate hemp products while closing loopholes for intoxicating products:
To be clear, the 0.001% THC standard for hemp-derived products (as defined in section 803 of the bill) wouldn’t legally disqualify full- and broad-spectrum products from being sold at all, but it would exclude them from the definition of hemp products, pushing them to the adult-use market where greater constraints would prohibit many who need the products from accessing them.
“The proposed THC limit as drafted would impose a devastating setback to a thriving industry, and further limit opportunities for already struggling hemp farmers,” said Jonathan Miller, General Counsel to the U.S. Hemp Roundtable.
In light of the generally pro-hemp theme of the bill, the U.S. Hemp Roundtable and industry watchers like ourselves are optimistic that the US Senate can craft a more appropriate approach to hemp-based products that doesn’t leave the market vulnerable to bad actors.
We’ll continue to monitor the progress of the Cannabis Administration Opportunity Act and report on any changes as they unfold.