Cryptocurrency exchange and wallet service provider licenses
Companies that deal with virtual currencies can apply for 2 different activity licences:
1. Providers of a service of exchanging a virtual currency against a fiat currency
2. Providers of a virtual currency wallet service
General about the licenses above
The operating licences are issued by Estonian Financial Intelligence Unit (FIU) which is an independent structural unit of the Estonian Police and Border Guard Board. Link
When applied together, two applications must be submitted and two different licenses are issued.
The main acts that regulate the activity: Link
The company is qualified as a Financial Institution but has no special reporting requirements to tax authority. Accounting must be done like any other company.
No special reporting to the regulator but FIU can always make precepts and inquiries about the company's activities.