Estonia's Financial Supervision and Resolution Authority has reminded crypto asset service providers operating in Estonia that they must align their activities with the European Union’s Markets in Crypto-Assets Regulation (MiCA) and either obtain a licence from Finantsinspektsioon or stop providing services by 1 July 2026. Until that date, firms can continue operating under a Financial Intelligence Unit licence as a provider of virtual currency services, but from 1 July 2026 crypto asset services may only be provided in Estonia by firms licensed by Finantsinspektsioon or another European Union member state supervisory authority. The authority warned that new applicants are unlikely to receive a licensing decision before the transition period ends and said applications submitted now or in the coming months must include a plan to wind up operations, which it may also require from firms already in the licensing process. Finantsinspektsioon is currently processing 10 licence applications and has also published a memo setting expectations for orderly cessation, including protecting clients from unjustifiable financial harm and ensuring secure handling and, where needed, transfer of client assets to another licensed provider.
Finantsinspektsioon 2026-03-23
Estonia's Financial Supervision and Resolution Authority warns crypto asset service providers to obtain a MiCA licence by 1 July 2026 or wind down
Estonia's Financial Supervision and Resolution Authority has reminded crypto asset service providers that they must comply with the European Union’s Markets in Crypto-Assets Regulation and obtain a licence from Finantsinspektsioon or cease services by 1 July 2026. Firms may operate under a Financial Intelligence Unit licence until then, but new applicants are unlikely to be licensed before the transition ends and must include wind-up plans, with expectations set for orderly cessation and protection of client assets.