Estonia Issues First License to Crypto Service Provider Under New Regulation
Estonia’s Financial Intelligence Unit has issued its first license to a crypto service provider under the country’s new regulatory framework that entered into force in March. “Striga Technology OÜ is the first entrepreneur, who is authorized for the first time to provide a virtual currency service since the amendments of the Money Laundering and Terrorist Financing Prevention Act,” the regulator detailed. First License Issued Under New Crypto Regulatory Framework The Estonian Financial Intelligence Unit (FIU) announced this week that it licensed Striga....
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Estonia is preparing to enforce a set of new anti-money laundering rules that will stiffen requirements for crypto companies operating under Estonian license. The changes come amid concerns that Russia may use crypto to evade western sanctions and an ongoing audit of the Baltic nation’s AML policies.
Government of Estonia Creates Stricter Regulatory Environment for Crypto Businesses
Estonia, whose banking sector has in the past been implicated in the processing of billions for suspicious Russian clients, is now taking steps to close the loopholes that could allow Russia,....
About 400 crypto businesses in Estonia still hold licenses after the state revoked nearly 2,000 licenses last year. Financial regulators in the Baltic country of Estonia want to revoke all crypto exchange licenses in an effort to start the entire regulatory regime anew.Matis Mäeker, head of the Estonian Financial Intelligence Unit (FIU), has urged the state to “turn the regulation to zero and start licensing all over again,” local state-run news agency Eesti Ekspress reported on Wednesday.Mäeker claimed that the public is unaware of the risks of the cryptocurrency industry. Formerly the....
Striga is the first VASP to be approved since Estonia enacted a new legal framework restricting service providers in the bitcoin and crypto ecosystem.
The world’s largest crypto exchange will now provide various regulated crypto services to Bahraini citizens. Crypto exchange Binance will provide fully regulated services to its first country in the Middle East thanks to a license granted by Bahrain’s central bank.Bahrain was able to issue the license through the Cooperation Council for the Arab States of the Gulf (GCC). The world’s largest exchange and CEO Changpeng Zhao announced the crypto-asset service provider license on March 14. #TeamBahrain.#Binance has been granted the first license for a global crypto-asset provider in The....
An Israeli capital markets regulator, the Insurance and Savings Capital Market Authority, recently granted a “crypto financial services provider license” to Bits of Gold, the first such license for an active company in the country. This license allows Bits of Gold to offer crypto custodian services and to enable the safekeeping of funds belonging to retail customers. Amendment of Israeli Laws In what has been described as a first in Israel, the country’s capital markets regulator, the Insurance and Savings Capital Market Authority (ISACA) recently granted Bits of Gold....