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 Jüri Ratas, the former country’s prime minister and head of the Centre Party.
Although Estonia was considered several years ago as a crypto-friendly hotspot in the region, especially during Taavi Rõivas’ mandate, the situation has changed recently. Before the ministry drafted legislation to make regulations stricter, Estonia issued over 1,300 licenses.
With the Ratas’ legislation, over 1,000 licenses of crypto firms were