Thank you very much for conveying your concerns about our project. These types of constructive and objective conversations are those that denote quality of communication and understanding.
As indicated in your message, we declare our intention to be regulated in the last quarter of the current year 2019. Given the bad reviews and deliberate and unfounded opinions that we have received in this forum, and without having applied to the Swiss license yet, We found that we were placed on a warning list for that regulator.
This has logically complicated our regulation plan specifically for the Swiss license, but we have not ruled out it for any reason, and our legal apparatus is in the process of analyzing all the regulation options that are appropriate to the project, in order to apply the one that best suits our needs and objectives.
We apologize again for having had errors of expression regarding the explanatory texts of the project and the plan. We have adapted them to be clearer and we will continue to improve and evolve our project in the hands of our allies and partners as well as the constructive criticisms that are made to us in a polite and respectful way.
Thanking you for your time and input, greet you attentively.
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As we mentioned before, we have not yet applied for the FINMA License.... Put simply, we were looking to use Finma but we haven't applied yet. As you can read on our roadmap, in the last quarter of the current year 2019 is that we will apply to the regulatory licenses. We are up to date 9 of this month of the Q4 in search of regulation, which is perfectly in the plans we have followed and communicated.
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Blue Hill Foundation
Legal Department
Your
Whitepaper Road map doesn't mention a FINMA license.
It states
Q4-2019
Intention to be fully licensed under the Liechtenstein Financial Market Authority FMA
Has this application not been made either? How long is the expected wait for approval?
as you can read on our roadmap, in the last quarter of the current year 2019 is that we will apply to the regulatory licenses.
Your roadmap doesn't say "we will apply in the last quarter", it says "intention to be fully licensed."
So, FINMA or FMA? But what's a different acronym between friends?
According to FINMA's website, it takes at least six months to process a license. So even if you apply tomorrow, you won't expect to be "fully Licensed" until Q2 2020. That's not in your road map.
And what happens if they say "NO"? What happens to the BHF tokens you are selling as exchangeable 1-1 for regulated BHM equivalents? To the money you have collected in the pre-sale?
How can Bluehill hold a FINMA approved STO in Q4 2019 if, by the middle of November, they haven't even applied for the license to hold it, which takes six months to process?
And has it crossed anyone's mind that FINMA might just actually say NO, because what you are effectively doing is applying for retroactive approval to sell BHM tokens as
you have already sold them, or a straight 1-1 entitlement to them, under the BHF label?
The idea that the supposedly experienced supposed team of financial experts you supposedly have, are assuming that the licensing authorities will approve this sort of abuse of their regulatory process is laughable.
But what's a different acronym between friends?
B.H.Mining has taken a more democratic approach by planning a Swiss-regulated Security Token Offering (STO) for BHM-Tokens....
The Pre-STO is for BHF-Tokens, which will be redeemable 1-for-1 with BHM-Tokens when the official STO takes place in Q4 of 2019.
And no tyvm, I don't want to come to Switzerland either.