Hello Everybody

I have bad news concerning to cryptocurrency license in Estonia.  The goverment adopted bill and state fee
for issuing the license will grow from 345 EUR to 3300 EUR.   Most of businesess need 2 license;
- one for cryptocurrency exchange service
- one for crypto wallet

It means that applicant need pay 6600EUR state fee and other fees in relation to consulting matters.
From my point of view ready made companies with issued licenses may be cost > 10 000 EUR.

I described process here:
https://eesticonsulting.ee/cryptocurrency-license/

Here is news in relation to changes in Estonian Law:
https://eesticonsulting.ee/state-fee-for-crypto-license-will-increase-in-estonia-from-345-eur-to-3300-eur/

We can assist -  btw.  Estonia will changes rules -  state fee will grow from 345 EUR to 3300 EUR.

contact@eesticonsulting.ee or https://eesticonsulting.ee/cryptocurrency-license/


STATE FEE FOR CRYPTO-LICENSE WILL GROW FROM 345 EUR TO 3300 EUR
The Ministry of Finance in Estonia changes the rules for issuing crypto licenses. The application is being reviewed from 30 to 90 days and the price from 345 EUR to 3300 EUR for one license – comments Paweł Krok – CEO at Eesticonsulting.ee.

“We have learned our lesson from the banking sector the hard way, and we must now deal with new international risks, with cryptocurrencies among the most urgent of these,”

M. Helme from Ministry of Finance – Estonia

The Ministry of Finance in Estonia changes the rules for issuing crypto licenses. The application is being reviewed from 30 to 90 days and the price from 345 EUR to 3300 EUR for one license – comments Paweł Krok – CEO at Eesticonsulting.ee.

The Estonian government introduced changes to the granting of cryptocurrency licenses.  Minister of Finance – Martin Helme tells that this is only the first step in the field of prevention of money laundering.  The bill

introduces numbered formal obligations.  Application processing time will be extended from 30 to 90 days.   Required will be company incorporation in Estonia or running a branch of a foreign company.  Moreover, registered office address and board of directors need to be in Estonia. So far, the fee

stamp for the issuance of the license was 345EUR, and the amendment increases it 10 times to 3330 EUR from one license – adds Paweł Krok from Eesticonsulting.ee.  Current license holders have a deadline until 31 December 2019 to fulfil statutory requirements under pain of withdrawal

license by the Estonian financial market regulator – Financial Intelligence Unit (FIU).

 

Very interested! I am glad.