• CNN reports that online natural/organics retailer Thrive Market is at least temporarily getting out of the business of selling hemp extracts and topicals, which it had been selling online for 18 months.
The reason? According to Thrive CEO Nick Green, the company that processes its customer payments demanded that Thrive stop selling the products if it wanted to continue doing business with it. Which, the story says, shows “how businesses remain uncomfortable dealing with hemp -- and, specifically, hemp-derived extracts rich in the non-psychoactive cannabis compound cannabidiol (CBD) -- even though the plant gained more legal footing late last year.”
CNN writes that “Thrive is not alone. Earlier this month, third-party payment processor Stripe dropped the US Hemp Authority, a nonprofit organization developing a certification program and label for hemp, as a client because it thought it was too much of a liability.”
Green said in an email to its customers that “the company believes “that ethical and sustainable hemp is another cause worth fighting for, so rest assured that we will be working behind the scenes in the coming weeks to get hemp products back on Thrive Market. In fact, we're already in conversations with a new processing partner to try to make that happen."
The reason? According to Thrive CEO Nick Green, the company that processes its customer payments demanded that Thrive stop selling the products if it wanted to continue doing business with it. Which, the story says, shows “how businesses remain uncomfortable dealing with hemp -- and, specifically, hemp-derived extracts rich in the non-psychoactive cannabis compound cannabidiol (CBD) -- even though the plant gained more legal footing late last year.”
CNN writes that “Thrive is not alone. Earlier this month, third-party payment processor Stripe dropped the US Hemp Authority, a nonprofit organization developing a certification program and label for hemp, as a client because it thought it was too much of a liability.”
Green said in an email to its customers that “the company believes “that ethical and sustainable hemp is another cause worth fighting for, so rest assured that we will be working behind the scenes in the coming weeks to get hemp products back on Thrive Market. In fact, we're already in conversations with a new processing partner to try to make that happen."
- KC's View:
