Why Estonia shut down more than two-thirds of its crypto firms in 2020 - AML Intelligence
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Why Estonia shut down more than two-thirds of its crypto firms in 2020

ESTONIA REVOKED the licenses of crypto businesses

Estonia's government, headquartered in its capital Tallinn (pictured), was one of the first EU member states to license crypto businesses in late 2017

Estonia has revoked the licenses of over two-thirds of its crypto businesses in 2020 after financial intelligence found suspicious activity in the firms.

Finance Ministry Secretary-General Veiko Tali said in a recent announcement that monitoring and regulating virtual currency service providers “needed heightened

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