The law obliges the FIU to grant a deadline for compliance before revoking an operating licence. Accordingly, on 18 May 2026 the FIU issued a precept and simultaneously partially suspended the licence of BB Trade Estonia OÜ in order to protect clients’ interests to the greatest extent possible during the interim period. The company was prohibited from accepting additional funds from existing clients, including fiat funds and crypto-assets, and from establishing new business relationships.
As BB Trade Estonia OÜ did not respond to the supervisory precept and failed to comply with it, the FIU has today revoked the company’s licence to provide virtual currency services pursuant to the Money Laundering and Terrorist Financing Prevention Act (MLTFPA § 75(1)(4)).
The operating licence issued to BB Trade Estonia OÜ for providing virtual currency services was valid from 5 October 2020 until 29 June 2026.
The FIU conducts supervision under the Money Laundering and Terrorist Financing Prevention Act, primarily assessing the compliance of a company’s documentation with statutory requirements. The FIU does not have a mandate for prudential supervision, including the assessment of the safekeeping and protection of clients’ assets, their physical existence, or liquidity.
