Last time we wrote about latest requirements for cryptocurrency license in Estonia and new requirements you need to be aware of in case you are considering applying for such cryptocurrency license. Read about latest requirements related to cryptocurrency in Estonia here.
Person acquiring for a cryptocurrency license in Estonia need to follow restrictions of Republic of Estonia, such as business related to cryptocurrency in Estonia has to be ensured not only with financial aspects of the busines,s but also prevention of Anti-Money Laundering risk. More information about AML regulations in Baltics may be found in this article.
To avoid any risks cryptocurrency license in Estonia will be issued only if the entrepreneur, management members, procurator, a beneficial owner and owner, will not have any valid criminal offense. You may wonder whether cryptocurrency in Estonia is the only field where clear criminal record is mandatory for submission.
Cryptocurrency license in Estonia is not the only license where criminal record is an obligation. In the following fields it is not allowed to provide any services if a member of the management board or supervisory board or the beneficial owner has a valid punishment for a criminal offense against the economy, property, the state or public trust.
The fields amongst cryptocurrency in Estonia are:
- Persons who mediate the purchase or sale of immovable property;
- Persons who mediate the use of immovables, if the usage fee agreed in the transaction is at least 10,000 EUR per month;
- Certified auditors in the provision of auditing services and accounting service providers;
- Accounting or tax consultancy providers.
Look for more requirements for cryptocurrency license in Estonia in our website or write an email to our lawyers in Baltics at info@gencs.eu.