Opening a bank account these days may be far from easy for the e-residents of Estonia, even if the advertisements claim otherwise. Nowadays we regularly hear customers complain that their account opening applications have been turned down due to the lack of business connections with Estonia, which has definitely caused some disappointment among new e-residents….
On 4th April 2016 in case number 3-3-1-75-15, the Estonian Supreme Court ruled that the exchange of cryptocurrency is a lawful business activity regulated by the Anti-Money Laundering Act and Terrorism Finance Act and in order to operate in cryptocurrency exchange, an applicant shall obtain an authorisation (known as a Provider of Alternatives Means of…