MiCA Estonia 2025

Estonia MiCA (Markets in Crypto Assets) crypto requirements 2025

The EU's Markets in Crypto-Assets (MiCA) regulation, effective December 30, 2024, mandates that all crypto-asset service providers (CASPs) in Estonia obtain authorization from the Estonian Financial Supervisory Authority (EFSA) to continue operations. Estonia aligns with the MiCA framework, requiring CASPs to comply with the new regulations within the specified transitional period, ensuring alignment with the broader EU requirements.

Implementation Timeline:

• June 30, 2024: Provisions related to electronic money tokens (EMTs) and asset-referenced tokens (ARTs) become applicable across the EU, including Estonia.
• December 30, 2024: MiCA regulations become fully applicable across the EU, including Estonia, requiring CASPs to meet enhanced compliance and governance standards.
• December 30, 2024 – July 1, 2026: MiCA provides a transitional period until July 1, 2026, for CASPs to adapt to the new requirements and secure the necessary licenses from the EFSA.

Certainly, compliance tools like Scorechain’s AML solutions can support Estonian CASPs in meeting MiCA requirements while adhering to Estonia’s local regulatory framework.

How Scorechain Supports MiCA Compliance for CASPs in Estonia

Mandatory Licensing:

Estonian CASPs must obtain licensing under MiCA from the EFSA. Scorechain ensures smooth authorization processes by helping CASPs maintain transparent records and demonstrate compliance with both MiCA and Estonia's specific regulatory obligations.

Enhanced Customer Due Diligence (CDD):

Estonian regulations emphasize strong anti-money laundering (AML) measures. Scorechain provides tools for wallet screening, transaction monitoring, and risk analysis, enabling CASPs to meet both MiCA’s and Estonia’s stringent AML requirements.

Reporting Obligations:

Under Estonian law, CASPs must report suspicious transactions to the FIU (Financial Intelligence Unit). Scorechain’s reporting features streamline the filing of Suspicious Activity Reports (SARs), ensuring alignment with MiCA’s and Estonia’s reporting requirements.

Internal Controls:

CASPs in Estonia must establish effective internal controls for AML compliance. Scorechain offers customizable workflows and risk management solutions, ensuring seamless adherence to MiCA and Estonia’s national standards.

Regulatory Oversight:

Scorechain’s comprehensive analytics and dashboards provide transparency for the EFSA, enabling regulators to oversee CASP operations effectively. This fosters trust and facilitates compliance with MiCA.

Why Scorechain is the Right Choice for Estonian CASPs

By integrating Scorechain’s AML solutions, CASPs in Estonia can:

• Ensure compliance with MiCA and national regulations.
• Enhance customer due diligence and risk management.
• Build trust with regulators and customers through transparency and robust reporting.

Scorechain equips Estonian CASPs to navigate MiCA’s regulatory framework, ensuring compliance and fostering growth within Estonia’s evolving crypto market.

Book a demo now.

‍