The Estonian Financial Supervision Authority recently submitted a proposal to the Finance Ministry on the development of regulation for crowdfunding activity. In addition, Estonia is also considering introducing an EU-wide definition of “financial intermediary” that would include cryptocurrency exchanges.
The Estonian Financial Supervision Authority recently submitted a proposal to the Finance Ministry on the development of regulation for crowdfunding activity. Rather than signaling that immediate supervision is required, the proposal aims primarily to ensure future regulatory measures are put in place to ensure customer safety and prevent money laundering.