Estonia is currently a powerful platform for licensed cryptocurrency and cloud mining products for cryptocurrency transactions. However, there is a lot of legal uncertainty that makes it difficult to allocate cryptocurrency to one of the existing objects of civil rights.
Formally, cryptocurrency exchange activities are not valid in Estonia on the basis of a state license and a cryptocurrency permit is not required in Estonia. A few years ago, the Financial Regulation and Control Department set up the Innovation Hub platform, which offered cryptographic players and interested parties the opportunity to obtain recommended legal support with license for cryptocurrency exchange. Participants do not have to register and therefore a vague situation has arisen where the Estonian cryptocurrency license has temporarily faded into the background.