Estonia’s new anti-money laundering law will crack down on the crypto industry

Starting in February, Estonia will completely change its definition of virtual asset service provider (VASP) to include multiple cryptocurrency-related services-this move may affect (Bitcoin) Ownership in the country— according to European compliance expert Sumsub.

On September 21, the Estonian Ministry of Finance issued a draft bill to update the Anti-Money Laundering and Terrorist Financing Prevention Act (AML Act) as part of the government’s efforts to prevent money laundering and terrorist financing.