Estonia To Reinforce Electronic Currency Laws

Estonia, always looking towards the future

It is interesting that Estonia lagged behind in terms of the legislature regarding cryptocurrencies. The country is well known to be technologically progressive and highly interested in Bitcoin, Ethereum and other cryptocurrencies. So much so that it had attempted to launch its own, national electronic currency in the past. The move would have been a first in the world and might have had some very interesting implications for the economy of the country. Unfortunately, despite signing deals and coming very close, the national cryptocurrency of Estonia was not to happen, at least yet. The EU central bank did not enjoy the idea enough.

Despite the lagging behind, Estonia has been known to give license to trade cryptocurrencies for its fiat currency without issue for the year. Many companies within Estonia have been working in this context to a whole lot of success. Ibenex, a company that has been selling electronic currencies to software companies, was granted a license to deal in Estonia not too long ago. There are a number of their companies that have become part of this deal.

We are very excited to see where this technologically progressive country will be going next in relation to cryptocurrencies.

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