Supreme Court declares mediation of Bitcoins subject to anti-money-laundering supervision

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Yesterday’s verdict put an end to longstanding doubts whether trades with the cyber money should be treated as economic activity requiring special permit or not – in a landmark stand, Supreme Court declared mediation of Bitcoins an economic activity subject to anti-money-laundering supervision.

Uku Tampere, Police and Border Guard Board press representative:

For ordinary people buying or selling cryptocurrency in occasional transactions for own use, the Supreme Court judgement essentially alters nothing. However, when an individual begins to publicly offer cryptocurrency mediation service, he needs to apply for activity licence and meet the requirements prescribed by Money Laundering and Terrorist Financing Prevention Act.

Links:
http://news.postimees.ee/3652435/supreme-court-subjects-bitcoins-trade-to-money-laundering-rules
http://news.err.ee/v/business/5659f790-778f-4710-807e-782281aff8a0/supreme-court-bitcoin-has-financial-value-hence-trading-it-to-be-considered-economic-activity

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