{"id":35926,"date":"2021-02-05T15:50:46","date_gmt":"2021-02-05T13:50:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35926"},"modified":"2025-08-29T03:44:50","modified_gmt":"2025-08-29T00:44:50","slug":"estonia-tightens-rules-for-the-crypto-industry","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/estonia-tightens-rules-for-the-crypto-industry\/","title":{"rendered":"Estonia tightens rules for the crypto industry"},"content":{"rendered":"<p>The Estonian Ministry of Finance proposed changing the requirements for providers of cryptocurrency services.<\/p>\n<p><!--more--><\/p>\n<p>In December 2020, the authorities <a href=\"https:\/\/forklog.com\/en\/news\/estonia-revokes-licenses-of-more-than-1000-crypto-companies\">revoked licenses<\/a> of more than 1,000 companies and warned of further tightening of regulation. At that time, nearly 400 organisations continued to operate in the country.<\/p>\n<p>In January 2021, the Ministry of Finance published a bill establishing new rules for crowdfunding and crypto projects. On Friday, February 5, the department <a href=\"https:\/\/www.rahandusministeerium.ee\/en\/news\/ministry-finance-will-start-regulating-field-crowdfunding-and-crypto-assets\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">completed the reception<\/a> of comments on the document.<\/p>\n<p>According to the draft, oversight of the industry will move from the Financial Intelligence Unit of the Police and Border Guard Board of Estonia to the Financial Supervisory Authority.<\/p>\n<p>Companies will also have to re-apply for a license and pay the state fee.<\/p>\n<p>If authorities approve the bill, some provisions will take effect on 1 July 2021, with the rest coming into force on 1 January 2022.<\/p>\n<p style=\"margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block;\"><a style=\"text-decoration: underline;\" title=\"View UVIMS SK on Scribd\" href=\"https:\/\/www.scribd.com\/document\/493446654\/UVIMS-SK#from_embed\">UVIMS SK<\/a> by <a style=\"text-decoration: underline;\" title=\"View ForkLog's profile on Scribd\" href=\"https:\/\/www.scribd.com\/user\/456422024\/ForkLog#from_embed\">ForkLog<\/a> on Scribd<\/p>\n<p><iframe loading=\"lazy\" id=\"doc_89086\" class=\"scribd_iframe_embed\" title=\"UVIMS SK\" src=\"https:\/\/ru.scribd.com\/embeds\/493446654\/content?start_page=1&#038;view_mode=scroll&#038;access_key=key-4jjJpg6bSkuFbzw1OSXv\" width=\"100%\" height=\"600\" frameborder=\"0\" scrolling=\"no\" data-auto-height=\"false\" data-aspect-ratio=\"0.7080062794348508\"><\/iframe><\/p>\n<p>In 2020, the Estonian authorities introduced mandatory checks on top managers and founders of crypto projects, and increased the license fee from \u20ac345 to \u20ac3,300.<\/p>\n<p>Follow ForkLog on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Estonian Ministry of Finance proposed changing the requirements for cryptocurrency service providers.<\/p>\n","protected":false},"author":1,"featured_media":35927,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[35,36],"class_list":["post-35926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-estonia","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/35926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=35926"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/35926\/revisions"}],"predecessor-version":[{"id":35928,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/35926\/revisions\/35928"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/35927"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=35926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=35926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=35926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}