Estonian government revokes 500 licenses as a counteract strike after the illegal money flow of $220 billions involving Danske bank.
Estonia is a small country in northern Europe which is popular for its virtual investments.
It’s the first to liberalize crypto in 2017, licensing far more than 1400 entities.After the scandal, Regulators have mentioned that this crypto platform can be used to facilitate illegal transfers.
Madis Raimond, head of Estonian Financial Intelligence Unit, states that this strike is necessary to track down all the illegal transactions. His idea is to clean up the crypto industry by therefore tightening up the regulations.
This scandal has made the world turn their attention towards Estonia. This preemptive strike is welcomed by the mass.