Estonia approves regulatory bill for cryptocurrency service providers, FSA will be responsible for regulation and issuing licenses

ChainCatcher news, the Estonian government has approved a bill regulating cryptocurrency service providers, which still needs to pass a parliamentary vote. This bill will bring Estonia into compliance with the EU's Markets in Crypto-Assets (MiCA) regulation.

According to the legislation, cryptocurrency service providers will be regulated by the Financial Supervision Authority (FSA). Currently, these providers are registered with the Financial Intelligence Unit (FIU) and must comply with anti-money laundering (AML) rules. The FSA will start issuing licenses in 2025, and FIU license holders must apply for an FSA license by the end of that year.