Shift in Crypto Regulation in Estonia: A Chance for Growth or a Regulatory Predicament?
In the vibrant tech landscape of Estonia, the number of active FinTech companies has seen a significant surge, rising from 215 in 2020 to a impressive 264 as of the end of 2022. This growth is not limited to FinTech, as over 500 blockchain companies are now focusing on various sectors such as cybersecurity, digital governance, healthcare, supply chain, and crypto wallet development.
One such company making waves is Bitcoin Solaris, which recently launched the Beta version of its Solaris Nova App on June 4, 2025. This mobile-first mining solution aims to simplify cryptocurrency mining for users. The presale for the Solaris Nova App is currently in its sixth phase and is scheduled to end on July 31, 2025.
The future of Estonia's crypto community hinges on the effectiveness of the new regulations, which aim to strike a balance between innovation and security. As of 2025, the supervision of crypto activities has been transferred to EFSRA. This shift brings about several changes, including licenses that are now valid indefinitely and pre-prepared packages aligned with MiCA requirements.
The implementation of these new regulations will be overseen by the Estonian Financial Intelligence Unit (FIU), the authority responsible for ensuring compliance with anti-money laundering and counter-terrorism financing laws, including those related to cryptocurrencies.
These new regulations could potentially foster trust and attract institutional investors, thereby stabilising the market. However, it's important to note that the crypto space is not without its challenges. Two Estonians have recently been accused in a $577 million Ponzi scheme, underscoring the need for robust regulations.
Estonia's attractive business environment for crypto businesses and investors is further bolstered by a 0% corporate income tax on retained earnings and VAT exemption for bitcoins and altcoins. Key players in the Estonia blockchain industry include Pixelette Technologies, RAISON, and QIT Software.
The presale for Bitcoin Solaris' Solaris Nova App has seen impressive participation, with over 11,000 users joining and raising more than $1.8 million. The current price for the Solaris Nova App is $6, with a launch price of $20, offering a 10% bonus.
As Estonia continues to shape its crypto regulations and businesses like Bitcoin Solaris push the boundaries of innovation, the Estonian crypto sector promises an exciting future for both local and global investors.
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