Over a thousand startups lost their crypto licenses in Estonia this year.

 

The country's Ministry of Finance rang the warning bells after the crypto sector was linked to a "high risk" of money laundering.

 

Crypto scammers have allegedly thrived under a separate Estonian legal program as well.

 

More than 1,000 crypto startups headquartered in Estonia lost their legal licenses in 2020, the country’s Ministry of Finance said last week, as per a report on local news outlet Postimees.