Lens1000
VIP Contributor
The Estonian government has stressed that upcoming laws do not represent a complete ban on anonymous cryptocurrency possession.
Estonia enacted draft legislation on December 23 that would regulate certain crypto and virtual asset activities. It would have, for example, made anonymous virtual currency accounts illegal, based on a provision that went into force in summer 2020.
The Estonian government has now clarified that this applies exclusively to businesses and has no bearing on people who keep cryptocurrencies in personal digital wallets.
"The regulation applies to [virtual asset service providers] that execute services for or on behalf of a natural or legal person as a permanent business," the government noted in a press update on Sunday, Jan. 2.
Estonia enacted draft legislation on December 23 that would regulate certain crypto and virtual asset activities. It would have, for example, made anonymous virtual currency accounts illegal, based on a provision that went into force in summer 2020.
The Estonian government has now clarified that this applies exclusively to businesses and has no bearing on people who keep cryptocurrencies in personal digital wallets.
"The regulation applies to [virtual asset service providers] that execute services for or on behalf of a natural or legal person as a permanent business," the government noted in a press update on Sunday, Jan. 2.