📰 Table Of Contents
Estonian Government Legislation Update
The Estonian government has recently passed a legislation that will transfer crypto oversight responsibilities to the Financial Supervision Authority (FSA) starting in 2026. This move is aimed at regulating local crypto service providers to bring more structure to the emerging market.
Key Changes in the Legislation
- Toughening operational and reporting requirements for crypto service providers
- Bringing crypto companies under the FSA’s supervision for better control over financial crimes
- Requirement for crypto businesses to obtain licenses from the FSA by 2026
- Potential fines of up to 5 million euros for violating AML rules under the new law
Impact on Crypto Businesses
With this new legislation, crypto businesses in Estonia will now be subject to “real financial supervision” as opposed to just anti-money laundering requirements. Companies will need to comply with stricter regulations and licensing procedures to operate in the country.
Estonia’s Position in the Global Crypto Arena
Estonia has been at the forefront of legalizing cryptocurrency activities and maintaining a positive stance towards the industry. By aligning with the European Union’s Markets in Crypto-Assets (MiCA) regulations, Estonia aims to enhance its position as a favorable destination for crypto-related businesses.
Despite its progressive approach, Estonia has faced challenges with crypto-related fraud and scams, highlighting the need for tighter regulations and oversight in the industry.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
