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Author Topic: [2015-11-30] Estonian High Court Asks Government to Clarify Bitcoin Stance  (Read 223 times)
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December 01, 2015, 05:29:31 AM

Estonian High Court Asks Government to Clarify Bitcoin Stance

The Estonian Supreme Court has asked the country’s central bank, two of its civil ministries and its top financial regulator to answers questions related to bitcoin as it considers a case on the legality of the digital currency.

The questions focus on the application of anti-money laundering (AML) statutes to bitcoin activities, as well as the broader nature of the financial technology, according to a translation of the court’s 19th November decision. Eesti Pank, the Interior and Finance Ministries, and the Estonian Financial Supervision Authority must respond to the court’s request by 11th January.

The developments follow a lawsuit filed last year by Otto de Voogd, operator of bitcoin trading platform, in the wake of law enforcement pressure. Trading was suspended on the platform in February 2014, a move then attributed to "threats issued by the Estonian police".

As reported by CoinDesk, officials from the Estonian Financial Intelligence Unit of the Estonian Police and Border Guard Board had contacted de Voogd, telling him that he was required to provide information on users and attest to his compliance with national law. A representative for the Estonian Police later denied that de Voogd was threatened.

In a Facebook post over the weekend, de Voogd outlined the Supreme Court’s decision and said that the move will "show the true face of the Estonian state when it comes to dealing with truly disruptive innovation that was not created by the state itself".

De Voogd later told CoinDesk:

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December 01, 2015, 09:02:06 AM

It is never a good idea to challenge the state or government like that, but when it comes down to your bread and butter, it gets ugly. I find that it is better to work with the government and to educate them on the advantages of working with Bitcoin. Things like new job opportunities and tourism income.

The government obviously have a issue with Bitcoin, and it would need to be sorted out, for them to operate in a good environment.

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