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Estonia’s government circulates FAQs amid concern over new crypto rules

Estonia is circulating a series of frequently asked questions (FAQs) to dispel fears that its newly approved crypto legislation equates to a ban.  The heightened requirements are an effort to comply with recommendations from the Financial Action Task Force (FATF), which released guidance for nations recommending heightened anti-money laundering standards for VASPs.  The legislative proposal seeks to regulate crypto entities, or virtual asset service providers (VASPs), like traditional financial institutions and payment platforms. It adds onto Estonia’s 2020 prohibition of …