7th November 2018

Cryptocurrency Regulations in Estonia

Cryptocurrency Regulations in Estonia

Cryptocurrencies: Not legal tender

Cryptocurrency exchanges: Legal, must register with the Financial Intelligence Unit (supervised by Financial Supervisory Authority).

Cryptocurrency regulations in Estonia are open and innovative, especially in comparison to other EU member-states. Although not accepted as legal tender, Estonia’s government regards cryptocurrencies as “value represented in digital form”: accordingly, it classifies cryptocurrencies as digital assets for tax purposes but does not subject them to VAT. In 2017, the Anti Money Laundering and Terrorism Finance Act introduced robust new regulations for crypto businesses operating in Estonia.