The Drug Enforcement Agency (DEA) has made a ruling on CBD oil.
The cannabis substance is now illegal under federal law. Here are seven things you should know about the move:
- DEA Acting Administrator Chuck Rosenberg said the new law will pave way for the agency to exercise its power in tracking quantities of CBD oil.
- The agency said these substances are federally illegal Schedule I substances. “Extracts of marihuana will continue to be treated as Schedule I controlled substances,” the notice says.
- Some websites are selling the substance on their website, which they may legally be able to do if the THC percentage in hemp is 0.3% or less.
- The code is 21 CFR Part 1308 and it mentions marijuana extracts.
- However, the DEA says that this isn’t the case as all extracts that contain CBD also contain other cannabinoids, thus ensuring they are illegal.
- The agency ensures that they could prosecute even if they find small traces of the substance.
- CBD oil is often seen as an alternative way of consuming marijuana that doesn’t require smoking.
The opinions contained in this column are solely those of the writer.
Want to share your own views on money and politics? Drop us a line at firstname.lastname@example.org and we might reprint your views in our InvestorPolitics blog! Please include your name, city and state of residence. All letters submitted to this address will be considered for publication.