Estonia Revokes More Than 1,000 Crypto Firms Licenses This Year
Over 1,000 cryptocurrency firms’ licenses have been revoked in Estonia this year as the country tightens the oversight of the crypto industry amid heightened money-laundering concerns.
1,000+ Crypto Firms Lost Their Licenses This Year
The Estonian Ministry of Finance revealed Friday that the country’s Financial Intelligence Unit (FIU) has revoked more than 1,000 crypto companies’ licenses this year. Estonia, once a Mecca for cryptocurrency entrepreneurs, started worrying about the money-laundering risks in the crypto sector last year.
The announcement follows the meeting of the Government Anti-Money Laundering Commission where the issues surrounding the regulation of cryptocurrency service providers were discussed. Veiko Tali, the secretary-general of the Ministry of Finance who serves as the deputy head of the commission, stressed that “the monitoring and regulation” of crypto service p