Estonian Consulting Firm Claims It’s Harder to Get a Crypto License Following Regulation
Adrian Zmudzinski's original article for cointelegraph.com reduced by 55%
Estonian consulting firm Eesti has claimed that it is getting harder to get a cryptocurrency license in Estonia in a press release published on May 16. The Estonian government's Ministry of Finance introduced changes to the licensing process on May 3. The new regulations adds a numbered formal obligation, extends the processing time from 30 to 90 day and establishes the requirement for a company or branch to be incorporated in Estonia.
Eesti claims that it will be hard to obtain a cryptocurrency license now with the new regulations. Current license holders will reportedly have time until the end of the year to fulfill the new requirements, otherwise their license will be withdrawn by the regulator. As Cointelegraph reported in December last year, the Estonian Ministry of Finance already announced at the time that it would have added amendments to a recently-passed financial bill in order to tighten crypto-related regulation.
Last week, Cointelegraph also wrote that Germany plans to introduce draft regulations allowing blockchain bonds as soon as this summer.
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