What sounds at first like a Libertarian Paradise (lack of government regs) is being blamed for yet another CBD company going under. Had they stuck to their original plan, hempseed foods, it likely would not have failed.
“The lawyer who helped make hemp legal in North Carolina recently told YES! Weekly that government refusal to regulate CBD has put him out of the business of extracting and selling it.
“It’s not just that,” said Bob Crumley on a Wednesday phone call. “Without the pandemic, my retail business might have survived. But refusal to regulate the hemp industry’s bad actors killed it.”
Crumley, a Greensboro attorney, co-wrote the state’s first hemp bill, which became law in 2015. In 2017, Crumley founded the Asheboro-based company Founder’s Hemp. In 2019, AgriProducts, the extraction division of Founder’s Hemp, became the first such company in the state to be Good Manufacturing Practice (GMP) certified. GMP is a system for ensuring that products are consistently produced and controlled according to quality standards. It is designed to minimize the risks involved in any product manufacturing that cannot be eliminated through testing.
In 2020, Founder’s Hemp shut down.”