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Estonian Regulators Revoked 500 Cryptocurrency Permits to Tackle Financial Crimes
Summary: 500 cryptocurrency permits in Estonia, a third of total number issues, have been revoked by local regulators due to suspect of illicit transactions such as embezzlement, according to a report from Bloomberg.
500 cryptocurrency permits in Estonia, a third of total number issues, have been revoked by local regulators due to suspect of illicit transactions such as embezzlement, according to a report from Bloomberg.
The report explained that this is part of Estonia’s move to prevent financial crimes and handle Europe’s biggest-ever dirty-money scandal, a case of $220 billion money laundering through the local unit of Denmark’s Danske Bank.
Madis Reimand, the head of Baltic country’s Financial Intelligence Unit, said in a phone interview that, “This is a first step in tidying up the market, allowing us to take care of the most urgent issues by permitting operations only for companies that can be subjected to Estonian supervision and coercive measures.”
By Dawn Wu
Tags: Crimes,crypto currency,Estonia
Link: Estonian Regulators Revoked 500 Cryptocurrency Permits to Tackle Financial Crimes [Copy]
