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In January 2021, the U.S. District Court for the Southern
District of New York considered a motion to dismiss a class action
lawsuit filed against Helbiz, Inc. and other defendants that
concerned Helbiz's issuance of HelbizCoin, a
cryptocurrency.
1 The suit included claims arising under
United States securities laws. The Court granted the motion because
it held the cryptocurrency purchases did not occur in the United
States, despite computing activity occurring in the United States
that made the purchases possible.
Helbiz allegedly promoted the purchase of HelbizCoin as the