Saatja: Groot, Iris de <
[email protected]>
Saadetud: 18.01.2022 14:32
Adressaat: RAB rahapesu <
[email protected]>
Teema: Request for information about crypto service providers
Dear reader,
I hope this email finds you well. For a while I have been following the news on crypto service providers
regulation in Estonia, and there seem to be some changes ahead. I would like to properly inform my
colleagues in the Hague, as crypto is growing rapidly in the Netherlands too.
Is it possible to ask online question or to have a meeting to discuss this topic? I am not looking for an
official government position on the issue, but better understanding, more explanation and perspective.
At the moment, I have the following questions:
Is there information about what is the reason that crypto service providers choose Estonia? Is it
the tax system or the ease with which one can set up a business in Estonia while being abroad
(or both)? Or something else?
Is there information what kind of crypto service providers ‘reside’ in Estonia? Mainly the ones
that can exchange money for virtual currencies or crypto service providers that can offer
customers a custodial wallet for storing such currencies?
Assuming that these companies fall under the e-residency program; the program has reported a
2020 revenue of €19.7 million – but looking at the turnover of the crypto service providers (20.3
billion euro’s in 2020/2021) am I right to assume that not much taxes are paid by the service
providers but that they are mostly (assumingly) reinvesting their profits?
It was said that a large proportion of the companies did not submit any reports of suspected
money laundering or terrorist financing to the FIU in 2021 – looking at the countries between
the money is moved this is rather suspicious. Was this a reason to come with additional
legislation?
Is it possible share more detail about the proposed legislation? How increase the transparency
of virtual currency transactions, including those using crypto currencies like Bitcoin, as well as
non-fungible tokens (NFTs), thereby reducing the anonymity of crypto asset transactions?
Looking forward to your reply.
Met vriendelijke groet, / Kind regards,
Iris de Groot
Deputy Head of Mission
........................................................................
Embassy of the Kingdom of the Netherlands in Estonia
Rahukohtu 4-I | 10130 | Tallinn | Estonia
........................................................................
T (+372) 680 5511
M (+372) 55521202
E
[email protected]
W https://www.netherlandsandyou.nl/your-country-and-the-netherlands/estonia
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