Bad actors exploited Estonia’s once liberal licensing regime for crypto companies to defraud investors and commit other crimes, an investigative report claims. The authors say they discovered dozens of such cases, including scams and schemes for sanctions evasion and money laundering. Since Tallinn tightened its rules, many of these entities have left Estonia, whose banking…
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CoinsPaid said it is now working with Estonian law enforcement and several blockchain security firms are assisting to minimize the impact of the July 22 exploit. Cryptocurrency payments platform CoinsPaid has pointed the finger at North Korean state-backed Lazarus Group as being behind the hacking of its internal systems, which allowed them to steal $37.3…
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There has been an 80% drop in the number of registered crypto firms operating in Estonia, official data has revealed. Per a release from the government-run Anti-Money Laundering Data Bureau, 389 firms have either had their operating licenses revoked or have asked for their permits to be withdrawn since early 2022. The government amended the…
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The majority of crypto companies attracted by the once favorable Estonian regulations have either abandoned or lost their licenses. According to the latest numbers released by the Baltic nation’s anti-money laundering bureau, only 100 businesses are currently authorized to provide digital-asset services. Most Estonian Licenses for Provision of Crypto-Related Services Expire A total of 389…
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Estonia’s money laundering regulator highlighted a number of issues it found within local crypto firms, such as dodgy execs and nonsensical business plans. Almost 400 Virtual Asset Service Providers (VASPS) have voluntarily shut down or had their authorizations revoked in Estonia following the government’s recently enhanced Terrorist Financing Prevention and anti-money laundering laws (AML) that…
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Bit4You suspended operations on April 26 amid a CoinLoan insolvency investigation by Estonian regulators. Belgian cryptocurrency trading platform Bit4You has suspended all operations, including withdrawals, amid an insolvency investigation of one of its key partners. Suite à cela, nous avons immédiatement entamé plusieurs démarches pour comprendre la nature et la portée de cette situation. En…
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A bitter dispute between Paxful’s co-founders in Delaware courts may have led to the crypto marketplace’s sudden closure. A bitter dispute between Paxful’s co-founders, Artur Schaback and Mohamad (Ray) Youssef, in Delaware’s courts may have been the real reason behind the Bitcoin marketplace’s sudden closure on April 4. Schaback and Youssef, who started Paxful in 2015…
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Law enforcement officers from Estonia and the United States have arrested two men for allegedly committing a large-scale cryptocurrency fraud. The Estonian nationals, who ran a crypto mining service and a fake virtual currency bank, laundered their proceeds, spent on cars and real estate, and donated to a politician. Estonian Police, FBI Detain 2 Crypto…
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With the increasing adoption and acceptance of crypto assets, more crypto-related firms and service providers are rising. Also, they are taking their expansion visions in the sector very seriously. However, crypto industry regulations have placed limitations on some firms’ goals. Most top-tier regulators require the fulfilment of some rules for the operation of crypto service…
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