Due to the necessity to increase surveillance and decrease risks related to companies registered in Estonia and providing either the crypto wallet service or the crypto exchange service, the Parliament will soon adopt the following amendments to relevant laws. Firstly, the state fee will increase almost 10 times and will be 3300 euros in the future. This will be for both of the aforementioned licenses if applied together. There will be more thorough background checks on the people involved with the company. Right now, the checks are mostly formal but in the future the Financial Intelligence Unit will check the reputation of the service provider as well as the suitability. The people offering
In the age of internet, your laziness (and good faith in people) might cost you time, money and nerve cells. Whenever you are entering into a business partnership, rental agreement or procure services, you are advised to check the other party. There is no 100% guarantee to avoid trouble but there are many easy ways to get close to a 100%. You need to know the personal code or the business code of the other party and also consider that some of the checks can be purchased, some of them are only in Estonian. In the Business Registry: https://ariregister.rik.ee/index?lang=eng you can check the company data - you will see the board member data for free and also how long the company has operated,