According to the current legislation, businessmen engaged in the storage of cryptocurrencies, crypto-assets, tokens and other virtual currencies owned by third parties, are obliged to comply with measures to combat money laundering and terrorist financing (including AML/KYC procedures) and obtain a state license of the provider of a virtual currency wallet service.
About cryptocurrency license in Estonia
According to the Annual report in 2019 alone, 667 new licenses to exchange fiat money for cryptocurrencies were issued in Estonia.
Today Estonia is on the spot. The laws of Estonia mentioned “crypto” for the first time in 2017. In 2017 Estonia was the first country to implement into the national laws EU Directive 2015/849, which in turn was the first law to set the European legal framework for virtual currencies. You can ask our consultants about Estonia cryptocurrency license anything you want.