{"id":33356,"date":"2020-12-14T18:04:17","date_gmt":"2020-12-14T16:04:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=33356"},"modified":"2025-08-28T13:24:26","modified_gmt":"2025-08-28T10:24:26","slug":"estonia-revokes-licenses-of-more-than-1000-crypto-companies","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/estonia-revokes-licenses-of-more-than-1000-crypto-companies\/","title":{"rendered":"Estonia revokes licenses of more than 1,000 crypto companies"},"content":{"rendered":"<p>In 2020, Estonian authorities revoked the licenses of more than 1,000 companies active in the digital-asset sector, according to <a href=\\\"https:\/\/rus.postimees.ee\/7132115\/v-estonii-lisheny-licenziy-bolee-tysyachi-firm-sektora-kriptovalyut\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">Postimees<\/a>.<\/p>\n<p>\\n<\/p>\n<p><!--more--><\/p>\n<p>\\n<\/p>\n<p>Nearly 400 crypto-service providers remain in operation. The Estonian Ministry of Finance notes that many companies have only a minimal link to the country, and most of their users reside in distant jurisdictions.<\/p>\n<p>\\n<\/p>\n<p>Veiko Tali, deputy head of the government\u2019s anti-money laundering and counter-terror financing prevention committee, said the cryptocurrency industry continues to warrant close scrutiny.<\/p>\n<p>\\n<\/p>\n<blockquote>\n<p>&#8220;In the area of virtual currency services, several important changes are planned for next year to further regulate this sector,&#8221; the official said.<\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p>In July, Estonia tightened the rules for registering crypto companies amid a scandal involving the laundering of $220 billion through the local branch of Danish Danske Bank.<\/p>\n<p>\\n<\/p>\n<p>The decision window was extended to 120 days, and the fee rose to \u20ac3,300. Among the licensing prerequisites were the existence of a payment account, share capital, and the physical presence of staff in the country.<\/p>\n<p>\\n<\/p>\n<p>As reported in September, Estonia&#8217;s financial intelligence unit suspected some participants in the online-residency program (e-Residency) of involvement in <a href=\"https:\/\/u1f987.com\/en\/news\/estonian-authorities-uncover-crypto-scammers-among-e-residency-participants\">cryptocurrency fraud<\/a>.<\/p>\n<p>\\n<\/p>\n<p>Subscribe to ForkLog\u2019s news on Telegram: <a href=\\\"https:\/\/t.me\/forkloglive\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog FEED<\/a> \u2014 all the news, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2020, Estonian authorities revoked the licenses of more than 1,000 companies active in the digital-asset sector, according to Postimees.<\/p>\n","protected":false},"author":1,"featured_media":33357,"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-33356","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":"31","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=33356"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33356\/revisions"}],"predecessor-version":[{"id":33358,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/33356\/revisions\/33358"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/33357"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=33356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=33356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=33356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}