Estonia to Tighten Rules for Licensed Crypto Companies

Estonia to Tighten Rules for Licensed Crypto Companies

Estonia, one of Europe’s most crypto-friendly nations, plans to tighten its licensing regime for cryptocurrency companies. The financial authorities in Tallinn want to introduce stricter regulations for fintech businesses registered in the Baltic country.  

Also read: Binance Terminates Services for Users in Belarus

Regulators to Increase Oversight

The Financial Intelligence Unit, the Estonian regulator issuing the licenses, has made a number of proposals to strengthen the rules for entities dealing with digital assets. The Ministry of Finance is currently preparing draft amendments to the country’s Anti-Money Laundering and Counterterrorist Financing Law, the local news outlet Äripäev reported.

Estonia to Tighten Rules for Licensed Crypto CompaniesThe revisions will be presented to the Council of Ministers for approval and then filed in the Estonian parliament for adoption. The ministry believes the anti-money laundering bureau should be tasked with inspecting all companies that provide services in the sector. The monitoring of…

Read Full Story : Bitcoin News

2018-12-01 07:30:01

You Might Be Interested In


Your email address will not be published. Required fields are marked *