What you need to know about Cryptocurrency license in Estonia - 2021

If you are considering applying for cryptocurrency (crypto) license in Estonia, you shall be familiar with latest requirements from government of Republic of Estonia in 2021. The operations with cryptocurrency in Estonia are evolving so that requirements have become more tightened up.  

Some of the updates of cryptocurrency licenses in Estonia were mentioned already before year 2021 and you can easily find more important new requirements, such as fact that there is no two separated cryptocurrency licenses anymore but one instead and the state fees has increased to 3300 EUR, here.

These are the latest updates for the cryptocurrency license in Estonia you need to follow up in case you are looking to start business activity related to cryptocurrency in Estonia.

There is an obligation to notify changes in economic circumstances. Cryptocurrency license in Estonia can be null/void by the Rahapesu Andmebüroo in case:

 1. The undertaking has been granted an activity license by the Financial Supervision Authority.

 2. The undertaking repeatedly fails to comply with the precepts of the supervisory authority.

 3. The undertaking has not started operating in the requested field of activity within 6 months as of the issue of the cryptocurrency license in Estonia.

 4. The undertaking does not comply with the applicable conditions for the issue of an activity license and the non-compliance has not been eliminated within the term specified in the precept, which shall not be shorter than 30 days (entry into force 20.7.2020).

You may also be interested in platform that provides access to blockchain technology and enables software development, to hear more look in this video:   

If you are looking for someone who may help you to apply for cryptocurrency license in Estonia and require license in Estonia, please refer to our lawyers in Estonia at info@gencs.eu.




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