Estonian court increases restrictions on cryptos trading

Estonia Europe
Estonia is recognized for its pro-innovation approach towards cryptocurrency regulation and has been utilizing blockchain technology in its own health, judicial, legislative, security and commercial code registries since early 2012.

In a lawsuit dating back to 2014, which originated as an enquiry into bitcoin’s legality, a ruling has been made by the Estonian Supreme Court, and it’s bad news for cryptocurrency traders.

The court’s verdict supports increased restrictions on bitcoin trading and, while not specified in writing, in practice brings it under Estonian anti-money laundering regulations.

Estonia is considered unfriendly towards cryptocurrencies, with the county’s central bank officials relating to bitcoin as a “problematic scheme”.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

Leave a Comment

Coinlaw Newsletter

Whether you are a law firm, founder gearing-up for a token offering, or a crypto currency trader, subscribe to the biggest crypto legal newsletter to be informed of the latest developments in each and every jurisdiction