Estonian central bank to conduct digital currency research
They’re following other central banks, including the European Central Bank, into studying virtual currencies. The Estonian central bank, Eesti Pank, announced the launch of a research program to study how to build a digital currency infrastructure.According to a statement, Eesti Pank partnered with technology companies SW7 Group and Guardtime for the research project. It aims to see if a keyless signature infrastructure (KSI) blockchain solution can run its virtual currency program. Estonia already uses KSI blockchain technology for its e-government services. The bank’s project will also....
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As the Estonian authorities continue to tighten their grip on the digital currency trade, local bitcoin trading site BTC.ee (not to be confused with BTC-e) has announced via its website that it has "temporarily stopped trading due to threats issued by the Estonian police". The move follows a warning about bitcoin and other virtual currencies issued by a member of Estonia's central bank earlier this year, in which he called bitcoin a "problematic scheme" and said that "virtual currency schemes are an innovation that [deserve] some caution". Otto de Voogd, the site's owner, told local....
The Estonian Supreme Court has asked the country's central bank, two of its civil ministries and its top financial regulator to answers questions related to bitcoin as it considers a case on the legality of the digital currency. The questions focus on the application of anti-money laundering (AML) statutes to bitcoin activities, as well as the broader nature of the financial technology, according to a translation of the court's 19th November decision. Eesti Pank, the Interior and Finance Ministries, and the Estonian Financial Supervision Authority must respond to the court's request by....