Striga First VASP Approved In Estonia

Bitcoin and cryptocurrency bank, Striga, became the first virtual asset service provider (VASP) to gain regulatory approval in Estonia. The eastern European country passed the Money Laundering and Terrorist Financing Prevention Act in March, which strengthens regulations against VASPs. The law requires VASPs to provide identities for their customers, but not private keys. The country’s Financial Intelligence Unit announced that it’s revamping its digital asset framework, and can decline a license if an entity does not have business interests or a connection to Estonia.