Next the FIU analyses, whether the amendments of the authorisations comply with the new regulations foreseen by the Money Laundering and Terrorist Financing Prevention Act. Valid authorisations not being applied for amendment, will be reviewed as well.
“More than third virtual asset service providers will seek out new countries with lower quality of supervision, and regulations not yet meeting the risks and international standards related to virtual asset service providers,” said Matis Mäeker, the head of Estonian Financial Intelligence Unit.
In the beginning of 2022, 381 valid authorisations were issued in Estonia for the provision of virtual currency services.
