Estonia Moves to Reassure Crypto Sector Amid New Rules

Estonia has moved to calm investor fears about tougher rules on cryptocurrency, a sector which has been a target of regulatory scrutiny for the Baltic nation since at least 2019.

The country is considering new rules that would enforce due diligence, audits and higher levels of capital for crypto firms ahead of a review of its money laundering policies this quarter. The proposed rules still need parliamentary approval.

The Estonian Finance Ministry issued a statement and a FAQ after speculation the new rules would shut down crypto wallets and ban trading in Bitcoin. Estonia “recently introduced draft legislation that would ...