CryptoCurrency
FXOpen owner Aliaksandr Klimenka has voting rights suspended by Cyprus regulator CySEC
Cyprus financial regulator CySEC has announced that at its meeting held on 29 July 2024 it decided that the influence exercised by Aliaksandr Klimenka, as sole indirect shareholder of CIF licensed company FXOpen EU Ltd, is prejudicial to the sound and prudent management of the CIF.
FXOpen EU Ltd operates the FXOpen Retail FX and CFDs brokerage brand (website fxopen.com) for EU based clients.
This is the second run-in that the FXOpen brand has had with global regulators recently. We had reported in early September that Australia regulator ASIC cancelled the Australian financial services (AFS) license of the group’s Australia subsidiary FXOpen AU Pty Ltd, citing a number of violations.
While CySEC did not make reference to it in its release on the matter, Aliaksandr Klimenka was indicted earlier this year in the US with charges of money laundering conspiracy and operation of an unlicensed money services business. According to the US Justice Department, Mr. Klimenka allegedly controlled BTC-e, a digital currency exchange, with Alexander Vinnik and others. BTC-e allegedly facilitated transactions for cybercriminals worldwide and received criminal proceeds from numerous computer intrusions and hacking incidents, ransomware scams, identity theft schemes, corrupt public officials, and narcotics distribution rings, and allegedly was used to facilitate crimes ranging from computer hacking to fraud, identity theft, tax refund fraud schemes, public corruption, and drug trafficking.
But back to Cyprus, CySEC said that it decided the suspension of the exercise of the voting rights attached to the shares of the CIF, held by Aliaksandr Klimenka, through the company FXOpen Ltd (the sole direct shareholder of the CIF), shall come into force after six months, in order to end that situation. Effectively, CySEC is forcing a change-of-control in FXOpen, giving the company six months to find a new owner.
For the determination of the type of measures it took, CySEC said it took into account:
i. The severity attributed by the legislator, as provided in article 11(3) of the L.87(I)/2017, to the influence of shareholders and to the possibility that it may be prejudicial to the sound and prudent management of a CIF, which is reflected in the type of measures provided for in the same article.
ii. The particular circumstances of the CIF, and specifically that Mr. Αliaksandr Klimenka is the sole ultimate shareholder.
iii. That the particular measure is considered, under the circumstances, appropriate to end Mr. Klimenka’s influence on the management of the CIF, since the suspension of voting rights, ensures his non-participation in decision-making at a general meeting of the CIF’s shareholders, which is the body for handling all of CIF’s matters.
For the determination of the deadline of six months for the above measure to enter into force, CySEC said it took into account the need to provide time (i.e. six months), before the implementation of the measure, in order for the CIF to proceed with finding solutions during the said period.
Bitcoin price rallies within $200 of a new all-time high as several fundamentals point to the crypto bull marking picking up pace.
A former IRS special agent and Binance’s head of financial crime compliance, Tigran Gambaryan had been in Nigerian custody with reports of deteriorating health since February.
UK based foreign exchange brand Travelex has announced that the company has undertaken a major expansion in the UAE, with the launch of 13 new stores across Abu Dhabi and Dubai airports.
At Zayed International Airport, Travelex is doubling its store footprint from seven to 14 stores, including six new on-the-move kiosk (OTM) locations at arrivals baggage, airside departures and pre-immigration, and one new traditional landside store. The new landside store will offer both a cash management service that will enable the airport’s businesses to process cash, as well as traditional consumer cash services, including access to 62 currencies.
Travelex initially entered Zayed International Airport in late 2023 with seven stores and eight ATMs. The new stores reflect the growing passenger demand and customer requirements of the UAE’s newest airport. As a dominant force in the capital’s aviation sector, Zayed International Airport rapidly affirmed itself as a key hub for air travel, solidifying its position as a vital player in the global travel landscape.
At Dubai International (DXB), Travelex is in the process of launching six new stores across all three terminals, including new traditional stores and stores upgraded from OTMS. Two ATMS dispensing AED were also installed at Terminal 3 Arrivals earlier this year. DXB has also seen a considerable post-pandemic growth in pax numbers, reinforcing its status as a leading hub for international travel.
The 13 new stores across Abu Dhabi and Dubai means Travelex will be operating 60 locations across the country. The latest IATA figures show that Middle Eastern airlines saw a 9.6% year-on-year increase in demand for June 2024, while capacity increased 9.4% year-on-year.
Batu Dölay, Managing Director, Travelex Middle East and Türkiye said:
“We’re delighted to be expanding our presence at two of the most exciting and dynamic airports in the world. This investment reflects the growing global reach and passenger numbers of our UAE airport partners, and our commitment to providing even greater access to international travel money than ever before.”
About Travelex
Founded in 1976 Travelex has grown to become one of the market leading specialist providers of foreign exchange products, solutions, and services, operating across the entire value chain of the foreign exchange industry in more than 20 countries. We have developed a growing network of ATMs and stores in some of the world’s top international airports, major transport hubs, premium shopping malls and city centres.
Travelex has built a growing online and mobile foreign exchange platform, and we also process and deliver foreign currency orders for major banks, travel agencies, supermarkets and hotels worldwide. In addition, we source and distribute sizeable quantities of foreign currency banknotes for customers on a wholesale basis – including central banks and international financial institutions. We also offer a range of remittance and international money transfer products around the world.
Solana price hits $180 as Bitcoin storms toward a new all-time high. Data suggests SOL can go higher.
Miners including Cormint and TeraWulf are among the lowest-cost producers of Bitcoin, an important advantage amid tightening margins, CoinShares said.
Having contributed roughly $12 million to PACs supporting Kamala Harris, Chris Larsen said he hoped to see “bipartisan support and weight” for crypto in government starting in 2025.
-
Science & Environment1 month agoHow to unsnarl a tangle of threads, according to physics
-
Technology1 month agoIs sharing your smartphone PIN part of a healthy relationship?
-
Science & Environment1 month agoHyperelastic gel is one of the stretchiest materials known to science
-
Science & Environment1 month ago‘Running of the bulls’ festival crowds move like charged particles
-
Technology1 month agoWould-be reality TV contestants ‘not looking real’
-
Science & Environment1 month agoMaxwell’s demon charges quantum batteries inside of a quantum computer
-
Science & Environment1 month agoX-rays reveal half-billion-year-old insect ancestor
-
Science & Environment1 month agoSunlight-trapping device can generate temperatures over 1000°C
-
Technology1 month agoUkraine is using AI to manage the removal of Russian landmines
-
Sport4 weeks agoBoxing: World champion Nick Ball set for Liverpool homecoming against Ronny Rios
-
Science & Environment1 month agoLiquid crystals could improve quantum communication devices
-
Technology4 weeks agoGmail gets redesigned summary cards with more data & features
-
Science & Environment1 month agoLaser helps turn an electron into a coil of mass and charge
-
Science & Environment1 month agoPhysicists have worked out how to melt any material
-
Science & Environment1 month agoQuantum ‘supersolid’ matter stirred using magnets
-
Technology1 month agoRussia is building ground-based kamikaze robots out of old hoverboards
-
Technology4 weeks agoSamsung Passkeys will work with Samsung’s smart home devices
-
Football4 weeks agoRangers & Celtic ready for first SWPL derby showdown
-
TV4 weeks agoসারাদেশে দিনব্যাপী বৃষ্টির পূর্বাভাস; সমুদ্রবন্দরে ৩ নম্বর সংকেত | Weather Today | Jamuna TV
-
MMA4 weeks agoDana White’s Contender Series 74 recap, analysis, winner grades
-
Science & Environment1 month agoA new kind of experiment at the Large Hadron Collider could unravel quantum reality
-
News4 weeks ago‘Blacks for Trump’ and Pennsylvania progressives play for undecided voters
-
News4 weeks agoMassive blasts in Beirut after renewed Israeli air strikes
-
Sport4 weeks agoAaron Ramsdale: Southampton goalkeeper left Arsenal for more game time
-
News4 weeks ago▶ Hamas Spent $1B on Tunnels Instead of Investing in a Future for Gaza’s People
-
MMA3 weeks ago‘Uncrowned queen’ Kayla Harrison tastes blood, wants UFC title run
-
Technology4 weeks agoEpic Games CEO Tim Sweeney renews blast at ‘gatekeeper’ platform owners
-
MMA4 weeks agoPereira vs. Rountree prediction: Champ chases legend status
-
News3 weeks agoNavigating the News Void: Opportunities for Revitalization
-
Technology1 month agoWhy Machines Learn: A clever primer makes sense of what makes AI possible
-
Science & Environment1 month agoWhy this is a golden age for life to thrive across the universe
-
News4 weeks agoWoman who died of cancer ‘was misdiagnosed on phone call with GP’
-
Football4 weeks agoWhy does Prince William support Aston Villa?
-
News4 weeks agoRwanda restricts funeral sizes following outbreak
-
Technology4 weeks agoMusk faces SEC questions over X takeover
-
Business4 weeks agoWhen to tip and when not to tip
-
Technology1 month agoMicrophone made of atom-thick graphene could be used in smartphones
-
Sport4 weeks agoWales fall to second loss of WXV against Italy
-
Science & Environment1 month agoITER: Is the world’s biggest fusion experiment dead after new delay to 2035?
-
Womens Workouts1 month ago3 Day Full Body Women’s Dumbbell Only Workout
-
News1 month ago▶️ Hamas in the West Bank: Rising Support and Deadly Attacks You Might Not Know About
-
Business4 weeks ago
DoJ accuses Donald Trump of ‘private criminal effort’ to overturn 2020 election
-
News4 weeks agoCornell is about to deport a student over Palestine activism
-
Technology4 weeks agoMicrosoft just dropped Drasi, and it could change how we handle big data
-
Technology4 weeks agoCheck, Remote, and Gusto discuss the future of work at Disrupt 2024
-
MMA4 weeks ago‘I was fighting on automatic pilot’ at UFC 306
-
Sport4 weeks ago2024 ICC Women’s T20 World Cup: Pakistan beat Sri Lanka
-
MMA4 weeks agoKayla Harrison gets involved in nasty war of words with Julianna Pena and Ketlen Vieira
-
Money4 weeks agoWetherspoons issues update on closures – see the full list of five still at risk and 26 gone for good
-
Sport4 weeks agoMan City ask for Premier League season to be DELAYED as Pep Guardiola escalates fixture pile-up row
-
Science & Environment1 month agoQuantum forces used to automatically assemble tiny device
-
Science & Environment1 month agoA slight curve helps rocks make the biggest splash
-
Science & Environment1 month agoNuclear fusion experiment overcomes two key operating hurdles
-
Technology1 month agoMeta has a major opportunity to win the AI hardware race
-
Sport4 weeks agoChina Open: Carlos Alcaraz recovers to beat Jannik Sinner in dramatic final
-
Business4 weeks ago
how UniCredit built its Commerzbank stake
-
News4 weeks agoGerman Car Company Declares Bankruptcy – 200 Employees Lose Their Jobs
-
Technology4 weeks agoTexas is suing TikTok for allegedly violating its new child privacy law
-
MMA4 weeks agoKetlen Vieira vs. Kayla Harrison pick, start time, odds: UFC 307
-
MMA3 weeks ago‘Dirt decision’: Conor McGregor, pros react to Jose Aldo’s razor-thin loss at UFC 307
-
Sport4 weeks agoSturm Graz: How Austrians ended Red Bull’s title dominance
-
News4 weeks agoHull KR 10-8 Warrington Wolves – Robins reach first Super League Grand Final
-
Sport4 weeks agoPremiership Women’s Rugby: Exeter Chiefs boss unhappy with WXV clash
-
Sport4 weeks agoCoco Gauff stages superb comeback to reach China Open final
-
Entertainment4 weeks agoNew documentary explores actor Christopher Reeve’s life and legacy
-
Science & Environment1 month agoNerve fibres in the brain could generate quantum entanglement
-
Science & Environment1 month agoTime travel sci-fi novel is a rip-roaringly good thought experiment
-
Business1 month agoStocks Tumble in Japan After Party’s Election of New Prime Minister
-
Business4 weeks ago
Bank of England warns of ‘future stress’ from hedge fund bets against US Treasuries
-
Business4 weeks ago
Sterling slides after Bailey says BoE could be ‘a bit more aggressive’ on rates
-
Football4 weeks ago'Rangers outclassed and outplayed as Hearts stop rot'
-
Technology4 weeks agoOpenAI secured more billions, but there’s still capital left for other startups
-
News4 weeks agoFamily plans to honor hurricane victim using logs from fallen tree that killed him
-
Business4 weeks ago
The search for Japan’s ‘lost’ art
-
Technology3 weeks agoIf you’ve ever considered smart glasses, this Amazon deal is for you
-
Technology4 weeks agoThis AI video generator can melt, crush, blow up, or turn anything into cake
-
Technology4 weeks agoThe best budget robot vacuums for 2024
-
News1 month ago▶️ Media Bias: How They Spin Attack on Hezbollah and Ignore the Reality
-
Science & Environment1 month agoHow to wrap your mind around the real multiverse
-
Business4 weeks agoChancellor Rachel Reeves says she needs to raise £20bn. How might she do it?
-
MMA4 weeks agoJulianna Peña trashes Raquel Pennington’s behavior as champ
-
Business4 weeks agoWater companies ‘failing to address customers’ concerns’
-
Technology4 weeks agoLG C4 OLED smart TVs hit record-low prices ahead of Prime Day
-
Technology4 weeks agoThe best shows on Max (formerly HBO Max) right now
-
Sport3 weeks agoWXV1: Canada 21-8 Ireland – Hosts make it two wins from two
-
Sport1 month agoWorld’s sexiest referee Claudia Romani shows off incredible figure in animal print bikini on South Beach
-
Technology4 weeks agoJ.B. Hunt and UP.Labs launch venture lab to build logistics startups
-
Business4 weeks ago
Head of UK Competition Appeal Tribunal to step down after rebuke for serious misconduct
-
Business4 weeks agoStark difference in UK and Ireland’s budgets
-
Money4 weeks agoPub selling Britain’s ‘CHEAPEST’ pints for just £2.60 – but you’ll have to follow super-strict rules to get in
-
Technology4 weeks agoSingleStore’s BryteFlow acquisition targets data integration
-
Technology4 weeks agoApple iPhone 16 Plus vs Samsung Galaxy S24+
-
Politics4 weeks ago
Rosie Duffield’s savage departure raises difficult questions for Keir Starmer. He’d be foolish to ignore them | Gaby Hinsliff
-
Health & fitness4 weeks agoNHS surgeon who couldn’t find his scalpel cut patient’s chest open with the penknife he used to slice up his lunch
-
MMA4 weeks agoUFC 307 preview show: Will Alex Pereira’s wild ride continue, or does Khalil Rountree shock the world?
-
MMA4 weeks agoPereira vs. Rountree preview show live stream
-
Football4 weeks agoSimo Valakari: New St Johnstone boss says Scotland special in his heart
-
Business4 weeks ago
Top shale boss says US ‘unusually vulnerable’ to Middle East oil shock
-
Technology4 weeks agoBest iPad deals for October 2024
-
News4 weeks agoSpongerla Rayner’s gift gluttony is worse than Free Gear Keir’s – her freeloading has destroyed working class reputation
You must be logged in to post a comment Login