Estonia's crypto honeymoon at an end as stricter regulations loom
After revoking licenses for many crypto firms, Estonia’s parliament is considering even stricter cryptocurrency laws. Estonia’s finance ministry is reportedly looking to enact stricter crypto licensing regulations. This comes after the authorities revoked the licenses of about two-thirds of the cryptocurrency businesses operating in the country back in 2020.According to ERR News, the Estonian Ministry of Finance issued draft legislation back in January to tighten the noose on the country’s crypto industry. As part of the proposed rule changes, the Finantsinspektsioon — Estonia’s Financial....
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The government of Estonia has approved legislation tailored to improve oversight of its crypto sector which expanded rapidly due to favorable regulations and business climate. The new law, which is yet to be adopted, will introduce stricter requirements for service providers without preventing their clients from owning or exchanging cryptocurrencies.
Authorities in Tallinn Draft Stricter Rules for Crypto Service Providers
The executive power in Estonia has prepared and approved draft legislation designed “to more effectively regulate virtual asset service providers....
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,....
In an interesting turn of events, one altcoin has seemingly come out of nowhere to dominate the discussions around crypto over the last week. Loom Network, with its native token LOOM, has barreled ahead of the likes of Bitcoin in this metric. Loom Network (LOOM) Takes The Spotlight In an X (formerly Twitter) post on […]
The new administration in Estonia is still planning to pursue an agenda to tighten rules for companies dealing with cryptocurrencies. The Ministry of Finance is looking to strengthen anti-laundering measures within the context of a major money-laundering scandal that involved Danske Bank. Estonia Revoked Over 1,000 Crypto Firms’ Licenses in 2020 Per a report by ERR News, the Ministry of Finance is not aiming to ride-off from the past administration’s agenda regarding the regulation of crypto assets, such as bitcoin (BTC). The current draft legislation is inherited from....
Bitbay has become a fully licensed cryptocurrency exchange in Estonia which introduced stricter rules for the industry last year. The European trading platform has recently passed an independent audit that confirmed its “solvency, security and fiscal responsibility.” Audit Examines AML and KYC Procedures at Bitbay Bitbay, a leading crypto trading platform in Europe, is now a fully licensed and regulated exchange under Estonia’s stringent regulations imposed last fall. The company has been audited by an independent third party which thoroughly examined its accounting....