CBD businesses around the world have been facing challenges with compliance related to know-your-customer (KYC), know-your-business (KYB) and anti-money laundering (AML) regulations.

In Canada, CBD is considered a controlled substance and is currently only legal for medical use. The sale and possession of CBD products without a prescription is currently illegal, but this is set to change with the legalization of recreational cannabis use, which is expected to occur in the near future.

CBD businesses have been experiencing difficulties with payment processors and high street banks accepting their companies for compliance reasons.

THC, or tetrahydrocannabinol, is a compound found in cannabis plants that is responsible for the "high" associated with marijuana use.

In Australia, CBD products are considered to be a therapeutic good and are regulated by the Therapeutic Goods Administration (TGA). In order to be legally sold, CBD products must be included in the Australian Register of Therapeutic Goods (ARTG).

According to a report by the Brightfield Group, the US CBD market was valued at $1.9 billion in 2018 and is projected to grow to $22 billion by 2022.

The European CBD market has been growing rapidly in recent years, driven by increasing consumer interest in the potential health benefits of CBD products.

According to a report by the Centre for Medical Cannabis, the UK CBD market was valued at £300 million in 2019 and is projected to grow to £1 billion by 2025.

If you are setting up an CBD ecommerce store, accepting payments is compulsory, of course. And with the great amount of payment processors - you’d think that you shouldn’t have a problem receiving payments through your online platform.