Cryptocurrency regulations in Estonia – Japan Security Token Business Association  
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Cryptocurrency regulations in Estonia

Contents

  1 Cryptocurrency regulation in Estonia
2 Procedures for STO
3 Strengths of the regulations
4 Reference

1 Cryptocurrency regulations in Estonia

Cryptocurrency transaction and STO are supervised under Estonian law.
Money Laundering and Terrorist Financing Prevention Act(MLTFPA)which was passed on November 27th, 2017 defines cryptocurrencies as a transaction method. Cryptocurrency transaction is monitored by Estonian Financial Intelligence Unit(EFIU).
In Estonia, cryptocurrency is called Alternative Means of Payment.

2 Procedures for STO

・ In order to conduct STO in Estonia, you need to prepare documents such as an authorization certification and a prospectus. Therefore you need to be audited by EFSA(Estonian Financial Supervision).
Compared to other EU countries, the process is simplified and it only takes two weeks.

3 Strengths of the regulation in Estonia

・Estonia is a lucrative country to investors, and the cost of setting up a country is relatively low.
・If you have the E-residence card, you can set up a business and have access to the EU market even if you aren’t an EU resident.
・Laws regarding STO are simplified
・Companies working on STO (over 900) are licensed by the government.

4 Reference

Estonia launches security token offering platform
Estonia
STO in EU

エストニアにおける暗号通貨の規制動向