The Helbiz team had ICO in 2018.
Helbiz coin holders lost their money.
Now Helbiz is going to IPO.
Helbiz coin holders filed a class-action case against Helbiz Inc., Salvatore Palella and others.
Case filed in New York Southern District Court on June 19, 2020

Money Transmitter License
and
BitLicense for Helbiz Pay

13.07.19

Money Transmitter License and BitLicense for Helbiz Pay

The best thing, that gives Helbiz uncompetitive opportunities is working in the legal area. That's why I told you about the strong background of the Helbiz team.

In June 2018 there was started the licensing process for HelbizPay.

The Money Transmitter License (MTL)and BitLicense allowing Helbiz and Helbiz Pay to:
• Receive virtual currency
• Transmit virtual currency between locations and individuals
• Store, hold, or maintain custody or control of virtual currency on behalf of other.
• Buy and sell virtual currency
• Control and administer a virtual currency
• Accept and receive electronic and wire transfers

By obtaining both licenses it will enable Helbiz to freely operate in the US allowing all US residents to acquire, send and pay with cryptocurrency directly from within the Helbiz & HelbizPay app, enabling our users to pay for both rentals and other services with Helbiz Coin.

The licenses are an essential part of creating a seamless all-in-one platform with the ability to operate within, and integrate with, the current payment ecosystem in the US.

The process includes full governmental background checks of the entire leader- and ownership of Helbiz as well as audited financial statements of Helbiz and its subsidiaries in addition to various fees and money transmitter bonds.
Helbiz get BitLicense and Money transmitter license (MTL) for HBZ coin

What you should know about MTL

It's a very difficult process, I will not to tell you to many details, you can google it or see by this link. But the general you should know that:

"Money Transmitter License Cost — Generally the number is between US$ 1.0–1.5 Million. The time period to acquire all the licensed can be approximately two years."

  • You need a lot of money
  • You need a lot of time
MTL license

What you should know about BitLicense

BitLicense
It's a very difficult process too. You can read some reviews about BitLicense applying by this link. For example:

"Applying for the BitLicense is an expensive and difficult process, as many have noted. Some other firms have chosen to abandon the New York market entirely, rather than comply. We do not fault them for doing so," said George Frost, executive VP and chief legal officer at Bitstamp.

Bitfinex doesn't have a BitLicense at this time

Here are 2 sources on Bitfinex: source 1, source 2.
In its current form, the requirements set forth by the BitLicense are extremely invasive and would compromise the majority of our user base's privacy. For this reason, among others, we have decided to "opt-out" of serving NY residents.
So, we understand, that Helbiz going in by the more legal way that Bitfinex. And you know, last news Bitfinex get 1 billion USD on pre-sale LEO token.

As result, Helbiz token price should be more, that Bitfinex token price.

Ripple has BitLicense and doesn't have MTL

In the 2016 year, Ripple got BitLicense. Wikipedia says:

"On June 13, 2016, Ripple obtained a virtual currency license from the New York State Department of Financial Services, making it the fourth company with a BitLicense"

We didn't find any facts about Ripple had got MTL.