The FIU announced that during a supervision systematic weaknesses in the activities of Hodltech OÜ d/b/a HODLtech (www.hodltech.eu) have been exposed. Consequently, the company's crypto license would have been declared invalid after the proceedings. However, Hodltech OÜ renounced its activity license to avoid revocation via FIU. The company did not fulfill the obligation of notification about the suspicion of money laundering and terrorist financing.
CoinPayments is a pioneering crypto payments processor founded in 2013 by Alex Alexandrov and Jason Butcher in Caymen Islands. The operators used to be CoinPayments Inc. in Caymen Islands and the Estonian HODLtech OÜ. CoinPayments informed that effective 15 June 2022 it is providing its crypto payment services jointly with Venture Star UAB in Lithuania, replacing Estonian HODLtech OÜ of its former CEO Jason Butcher. HODLtech OÜ lost its license a few days ago! Venture Star would be authorized to provide virtual currency deposit wallet and exchange services.