Topic: [2018-12-04]Estonia Hardens Crypto Industry by Adding New Amendments to Regulati (Read 139 times)
December 05, 2018, 03:51:07 PM
This just an added precaution for countries like them on accepting cryptocurrencies in their country. I wouldn't really take this as a bad news as I am not a criminal or a money laundered this is just some safe guards to avoid their chances of not being abuse by accepting crypto in their country. And as Estonia is part of Europe from what I have read lately the EU had set some standards with regards to AML in their partner countries, I just think that Estonia is following their part for the Union.
December 05, 2018, 12:16:16 PM
This trend is not limited to Estonia, but extends to many countries, as the regulatory regulations imposed in some of them and stressed on the other for many purposes.
Some talk about tax evasion as it is in Japan[1] and extended to include large platforms and not states as in Binance's case[2].
It was brought up directly at the G-20 meeting, so it is not expected that these laws will be enacted further.
[1] [2018-12-04] Japan to Force Crypto Exchanges ‘Tell on’ Suspected Tax Evaders
[2] https://bitcointalksearch.org/topic/binances-partnership-with-chainanalysis-to-detect-dirty-coins-5080123
Some talk about tax evasion as it is in Japan[1] and extended to include large platforms and not states as in Binance's case[2].
It was brought up directly at the G-20 meeting, so it is not expected that these laws will be enacted further.
[1] [2018-12-04] Japan to Force Crypto Exchanges ‘Tell on’ Suspected Tax Evaders
[2] https://bitcointalksearch.org/topic/binances-partnership-with-chainanalysis-to-detect-dirty-coins-5080123
December 04, 2018, 05:51:56 PM
Estonia Hardens Crypto Industry by Adding New Amendments to Regulations
The Finance Ministry of Estonia will soon add amendments to a financial bill which was recently passed, purposely meant to "harden" cryptocurrency-related regulation, according to a report by Äripäev, an Estonian financial newspaper.
Per the article, the "updated version of the Anti-Money Laundering and Terrorist Financing Prevention Act" was put into effect last week in Estonia, complying with legislation from the European Union's " Fourth Money Laundering Prevention Directive."
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/estonia-hardens-crypto-industry/
The Finance Ministry of Estonia will soon add amendments to a financial bill which was recently passed, purposely meant to "harden" cryptocurrency-related regulation, according to a report by Äripäev, an Estonian financial newspaper.
Per the article, the "updated version of the Anti-Money Laundering and Terrorist Financing Prevention Act" was put into effect last week in Estonia, complying with legislation from the European Union's " Fourth Money Laundering Prevention Directive."
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/estonia-hardens-crypto-industry/
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