e-Money license in Estonia - this guy know the s**t!

For a digital country there is only one EMI registered in Estonia. That tells you all you need to know about how serious they are about EMI's

Martin Everson said:

For a digital country there is only one EMI registered in Estonia. That tells you all you need to know about how serious they are about EMI's

Estonian e-money institutions | FSA

www.fi.ee

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Exactly! This makes Comistar come across as rookies.

The amount of BS spewed in that video is stunning. He's just reading off an oversimplified version of the laws as laid out in PSD2 and the E-Money Directive. Bypass this regurgitated nonsense and read the actual information. The requirements are effectively identical across the entire EU/EEA region. What differs is how the local regulators view servicing non-residents, for which Lithuania and UK have been at the forefront issuing dozens of licenses that they probably shouldn't have.

From conversations with the Estonian FSA, legal practitioners, and current licensees, the authorities in Estonia are careful not to become another Lithuania or, worse, Latvia when it comes to financial services. They made a mistake with the crypto licenses and are cleaning it up now. They will reject EMI applications for anyone who doesn't show strong ties to the local market and focus on Estonian clients first. This shouldn't be a big surprise, after the Versobank, Danske Bank, and Swedbank money laundering controversies.

Sols said:

They will reject EMI applications for anyone who doesn't show strong ties to the local market and focus on Estonian clients first.

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what you say it makes it almost impossible for new ones without the ties to the local market to start up. That may clean up things a little and take out the bad sheeps.