The first crypto company received a license from the Estonian authorities

by in Cryptocurrency News

Estonia

Estonia stopped the registration of bitcoin businesses in the fall of 2021 and revoked all of their permits.

A new registration procedure for businesses that represent the blockchain sector began this year. Striga was the first group to be granted such a permit.

According to the Financial Supervisory Authority (FIU) announcement, this business was given the authorization to operate in Estonia on September 20. Striga complies with anti-money laundering laws to the letter.

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Mathis Mäeker, the director of the FIU, revealed the government's intentions to increase oversight of the cryptocurrency industry back in May. The official claims that hundreds of blockchain businesses are still operating illegally in the nation.

Bernardo Magnani, CEO of Striga, emphasized that each company's verification procedure involves numerous steps. His group met all of the authorities' standards.

Legal activity in the Estonian market will make it possible to draw in additional counterparties and offer open customer service.