As part of an AML crackdown, Estonia’s action apparently is shuttering about 30% of the country’s crypto businesses. The head of their FIU says this is a “pre-emotive strike” against the industry, and that the goal is to tamp down money laundering risk in the industry through tighter regulation.
Curiously, the story in Blockchain.news (which quotes a Bloomberg report) says the companies that had their licenses pulled had not actually started operations for at least 6 months since the licenses were granted – so not due to any evidence of poor AML controls, or actual money laundering.
The story also references the comments Ken Blanco (from FinCEN) made about crypto and fintech firms still being subject to AML program requirements.
Link:
Categories: Anti-Money Laundering Virtual Currencies
Mr. Watchlist 
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