The Great Estonian Exodus — Crypto Firms Are Leaving Estonia


Back in 2017, the Estonian government rocked the legislative side of the crypto world when they introduced a raft of new laws designed to support crypto projects. These licenses split into two different categories: those looking to operate a crypto exchange and those looking to undertake an initial coin offering. Both company types stood to benefit from the first “real” cryptocurrency licenses anywhere on the planet.

As a result of these licenses, entrepreneurs digitally flocked to the small but great Baltic nation. The Estonian government was ahead in a number of ways. Not only was the country a trailblazer with crypto licenses but it also offered the ability for citizens of any nation to obtain a “digital residence.” This digital residency permitted entrepreneurs to locate themselves or their companies in Estonia in a legal sense, thereby obtaining the desired crypto licenses much easier, even if they conducted business elsewhere in the world.

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