Estonia Issues First License to Crypto Service Provider Under new Regulation! | Crypto

Estonia Issues First License to Crypto Service Provider Under new Regulation!

1.The Estonian Financial Intelligence Unit has issued its first license to a crypto service provider under the countrys new regulatory framework that entered into force in March.
2. The newly licensed firm is a wholly owned subsidiary of Lastbit Inc., a U.S. technology company.
3. The financial regulator clarified that as of Sept. 21, there were 177 valid licenses for virtual asset service providers previously issued by the FIU.
4. In June, the regulator said 135 companies had applied for a license under the new regulation. Meanwhile, 94 crypto service providers relinquished their authorizations and 18 licenses have been revoked this year.
5. Matis Meker, the head of the Estonian Financial Intelligence Unit, commented: “More than a third of virtual asset service providers will seek out new countries with lower quality of supervision, and regulations not yet meeting the risks and international standards related to virtual asset service providers.

estonia crypto Estonia Issues First License to Crypto Service Provider Under new Regulation!

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