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🇪🇪 Estonia

Former crypto-licence hub in freefall: from 641 VASP registrations at its 2021 peak to essentially one MiCA CASP.

Crypto (CASP / VASP) E-money (EMI)
Last verified 2026-08-15 Next review 2026-08-29

Data verified: oldest cell 46 days ago (verified 2026-07-02). Individual cells show their own verification date below.

Capital requirement Capital requirement is included with access. Included with access Timeline to authorisation Timeline to authorisation is included with access. Included with access Application cost Application cost is included with access. Included with access Passporting Passporting is included with access. Included with access

Licence type

MiCA CASP authorisation; implemented via the Crypto-Assets Market Act (Kruptovarade turu seadus, KrüTS), in force 1 July 2024.

Verified 7 weeks agoSource: Finantsinspektsioon (FI): https://www.fi.ee/en/investeerimine/investeerimisvaldkonna-tegevuslubade-taotlemine/kruptovaraturu-tegevusluba

Regulator

Finantsinspektsioon (Estonian Financial Supervision and Resolution Authority)

Verified 2 days agoSource: Finantsinspektsioon: https://www.fi.ee

Recent changes

Estonia's VASP population collapsed from 641 valid licences (mid-2021 peak) to 36 remaining by early 2026; as of recent reporting only one entity (Lightspark Payments Europe AS) had received full MiCA CASP authorisation. From 18 March 2026, CASP applications must go through FI's new application portal.

Verified 5 weeks agoSource: FinTelegram: https://fintelegram.com/mica-day-one-estonia-pulls-the-plug-on-the-old-crypto-licence-era-no-licence-no-eu-clients/

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Not legal advice. Entries marked placeholder or awaiting verification shouldn't be relied on. Verify with Estonia's regulator and qualified local counsel before acting.