One of the countries lauded as being among the most crypto friendly in the European Union revoked the licenses of more than 1,000 crypto firms in 2020.
According to news outlet Postimees, Estonia’s Financial Intelligence Unit, or FIU, has revoked the licenses of roughly 70% of virtual currency companies operating in the country this year. Veiko Tali, the Deputy Secretary General of the Government Committee for the Prevention of Money Laundering and Terrorist Financing, said the remaining crypto firms also required “close attention” given the potential risks: