We have written articles about cryptocurrency license in Estonia on our previous articles. Lately more requirements for cryptocurrency in Estonia business are issued to prevent risks of Anti-Money Laundering. If you are interested what are the latest requirements for cryptocurrency license in Estonia, look up here.
Rahapesu Andmebüroo has 60 days to issue the cryptocurrency license in Estonia, as of the date of submission of the application. The cryptocurrency license granting may be extended up to 120 days.
It is well understood that for cryptocurrency activities it is mandatory to apply for a cryptocurrency license in Estonia, however cryptocurrency in Estonia is not the only business field, where according to Estonian Law there is an obligation to acquire for a license.
You need a license in Estonia for following activities:
1. Acting as a financial institution.
2. Provision of trust management and company services (this entered into force 20.7.2020).
3. Pawnshop services.
4. Provision of virtual currency service.
5. For the purchase or wholesale of precious metals and articles of precious metal, other than precious metals and articles of precious metal for industrial, scientific and medical purposes, or precious stones.
If you are looking to start business in Estonia or to obtain for cryptocurrency license in Estonia feel free to ask questions to our lawyers in Baltics at firstname.lastname@example.org.