Does the passage of the 2018 Farm Bill legalize non-FDA-approved Hemp Derived Cannabinoid products?

Does the passage of the 2018 Farm Bill legalize non-FDA-approved Hemp Derived Cannabinoid products?

It is not fully clear when hemp derived cannabinoid products will be federally legal to be sold or how they will be regulated. The FDA stated they will “consider whether there are circumstances in which certain cannabis-derived compounds might be permitted in a food or dietary supplement.”  

In a statement, the FDA notes that it will continue regulating products containing cannabis or cannabis-derived compounds regardless of whether they are derived from a plant classified as hemp under the Farm Bill.