Menu Home

Estonia revokes 500 Crypto licenses

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:

Blockchain.news story

Categories: Anti-Money Laundering Virtual Currencies

eric9to5

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: