Tokenization & crypto licensing in Estonia

2 official registers read, 163 entries from Finantsinspektsioon.

Buying crypto in Estonia: what to know

Legal

Who regulates

Finantsinspektsioon (Estonian Financial Supervision Authority) — MiCA competent authority; authorises and supervises crypto-asset service providers (CASPs)
Rahapesu Andmebüroo (Financial Intelligence Unit, FIU) — Issued the old virtual currency service licences until MiCA took over
Maksu- ja Tolliamet (EMTA) — Tax authority; receives DAC8/CARF crypto reports

Licensing of providers

The Market in Crypto-Assets Act entered into force on 1 July 2024. Estonia used the full 18-month MiCA transition: firms with an old FIU virtual currency licence could keep operating until 1 July 2026. That period has ended. On 1 July 2026 the FIU cancelled the register data of the old licences. Only firms authorised by Finantsinspektsioon or another EEA supervisor may now offer crypto-asset services in Estonia. Estonia once had 641 valid FIU licences (mid-2021); 36 were left at the start of 2026. In the ESMA register three Estonian firms hold MiCA status: Lightyear Europe, LHV Pank and Lightspark Payments Europe. Official register of providers ↗

Tax

Crypto gains are taxed as normal income at 22%, with no holding period. Swapping one coin for another is taxable. Losses only count for crypto traded on MiCA-licensed platforms, and those coins can also go into a tax-deferring investment account.

Gains: 22% income tax (2026)

Tax authority: emta.ee ↗

Full tax page, incl. tokenized stocks and funds →

Reporting

Gains are declared in the annual income tax return: MiCA-platform trades in table 6.1 or 8.2 (gains and losses), non-MiCA trades in table 6.3 or 8.3 (gains only). DAC8/CARF: crypto-asset service providers collect data from 2026 and file the first report, for 2026, with EMTA by 30 June 2027.

Stablecoins

MiCA EMT/ART rules apply; for tax, stablecoins are treated like other crypto (each swap is a disposal).

Watch out

Check whether the platform held a MiCA licence on the day you traded. Losses on non-MiCA platforms do not count.
Swapping one coin for another is taxable, even if you never cash out to euros.
A trading platform is not itself an investment account; tax deferral needs an investment account at a bank, payment, e-money or investment firm.
Since 1 July 2026 old FIU licences are no longer valid; check a provider in the Finantsinspektsioon or ESMA register.

Checked 2026-11-09 · Confidence: high · Sources: [1][2][3][4][5][6][7][8][9][10]

Not confirmed: Tax treatment of crypto lending interest — not addressed on the EMTA crypto page · Whether the 22% rate changes for 2027 — not checked · Exact number of former FIU licence holders that obtained MiCA authorisation

Compiled to the best of our knowledge from the sources linked. Information, not tax or legal advice. Rules change — check the linked official sources before acting.

Found an error or something out of date? Tell us at [email protected] — we check and correct it.

Providers

Who offers tokenization and crypto services in Estonia

Crypto-asset service providers (VASPs/CASPs) in Estonia are registered with the Finantsinspektsioon (Estonian FSA). Its register „Turuosaliste register — krüptovarateenuse osutajad (Estonian and cross-border CASPs)“ lists 158 companies (read 2026-10-14). The conditions for registering are set by the authority — its own list is the source.

Lightspark Payments Europe AS
360 Treasury Systems AG
Acheron Europe B.V.
AlphaRoute SIA
AMDAX B.V.
AMINA (Austria) AG
Atrya Technologies SIA
AvianLabs Netherlands B.V.
B2C2 Europe Sarl
Baader Bank Aktiengesellschaft
Bank Frick & Co. AG
Banking Circle S.A.
Bequant Pro Limited
Bitavo B.V
BITCOINFORME, S.L.
+ 143 more in the register below

Where are crypto companies and VASPs registered in Estonia?

With the Finantsinspektsioon (Estonian FSA). Its register “Turuosaliste register — krüptovarateenuse osutajad (Estonian and cross-border CASPs)” lists 158 companies (read 2026-10-14), for example Lightspark Payments Europe AS, 360 Treasury Systems AG, Acheron Europe B.V., AlphaRoute SIA. The requirements for registering are set by the authority; its own list is the source: https://www.fi.ee/et/investeerimine/kruptovarateenuse-osutaja/investeerimine-0/kruptovarateenuse-osutajad

Official registers

What the authorities publish — and what we read

Status: Public register, read. Every address below was loaded, not guessed. A register entry records that an authority licensed, registered or approved something; it says nothing about whether you may or should buy it.

Authority	Register	Finding
Finantsinspektsioon (EFSA)	Turuosaliste register: (1) Krüptovarateenuse osutajad; (2) Muu krüptovara pakkujad või kauplemisele võtmist taotlevad isikud (white-paper notifications); (3) Väärtpaberituru kauplemiskohad	Public register, read

Turuosaliste register — krüptovarateenuse osutajad (Estonian and cross-border CASPs)

Licensed or registered providers · 158 entries

Finantsinspektsioon (Estonian FSA) · source · read 2026-10-14

Register no.	Name
lightspark-payments-europe	Lightspark Payments Europe AS
360-treasury-systems-ag	360 Treasury Systems AG
acheron-europe-bv	Acheron Europe B.V.
alpharoute-sia	AlphaRoute SIA
amdax-bv	AMDAX B.V.
amina-austria-ag	AMINA (Austria) AG
atrya-technologies-sia	Atrya Technologies SIA
avianlabs-netherlands-bv	AvianLabs Netherlands B.V.
b2c2-europe-sarl	B2C2 Europe Sarl
baader-bank-aktiengesellschaft	Baader Bank Aktiengesellschaft
bank-frick-co-ag	Bank Frick & Co. AG
banking-circle-sa	Banking Circle S.A.
bequant-pro-limited	Bequant Pro Limited
bitavo-bv	Bitavo B.V
bitcoinforme-sl	BITCOINFORME, S.L.
bitflyer-europe-sa	bitFlyer EUROPE S.A.
bitgo-europe-gmbh	BitGo Europe GmbH
bitonic-bv	Bitonic B.V.
bitpanda-asset-management-gmbh	Bitpanda Asset Management GmbH
bitpanda-gmbh	Bitpanda GmbH
bitpay-bv	BitPay B.V.
bitstack-sas	BITSTACK SAS
bitstamp-europe-sa	Bitstamp Europe S.A
bleap-sia	Bleap SIA
blockben-sia	BlockBen SIA
blocknodes-sas	BLOCKNODES SAS
blockrise-capital-bv	Blockrise Capital B.V.
blox-bv	BLOX B.V.
blue-cube-malta-limited	Blue Cube (Malta) Limited
boerse-stuttgart-digital-custody-gmbh	Boerse Stuttgart Digital Custody GmbH
bridge-building-sa	Bridge Building S.A.
brilliantscope-trading-ltd	BRILLIANTSCOPE TRADING LTD
bullish-europe-gmbh	Bullish Europe GmbH
bybit-eu-gmbh	Bybit EU GmbH
celsion-bank-ag	Celsion Bank AG
cf-technologies-ltd	CF Technologies Ltd
change-securities-bv	Change Securities B.V.
cige-vierte-pgg-gmbh	CIGE vierte PGG GmbH
circle-intetrnet-financial-europe-sas	CIRCLE INTETRNET FINANCIAL EUROPE SAS
clearstream-banking-sa	Clearstream Banking S.A.
cloverum-finance-cy-limited	Cloverum Finance (CY) Limited
coinbase-luxembourg-sa	Coinbase Luxembourg S.A.
coinify-aps	Coinify ApS
coinjar-europe-limited	CoinJar Europe Limited
coinmate	COINMATE A.S.
collect-exchange-cy-ltd	Collect & Exchange Cy Ltd
cometh-sas	COMETH SAS
cps-europe-sa	CPS Europe SA
criptan-trade-sl	CRIPTAN TRADE, S.L.
crossmint-europe-sl	CROSSMINT EUROPE S.L.
crossmint-europe-sl-0	CROSSMINT EUROPE, S.L.
cryptonow-gmbh	Cryptonow GmbH
damex-digital-ltd	Damex Digital Ltd
damoon-technology-europe-ag	Damoon Technology (Europe) AG
deblock-sas	DEBLOCK SAS
decentralized-uab	Decentralized, UAB
digital-assets-doo	DIGITAL ASSETS d.o.o.
dlt-securities-gmbh	DLT Securities GmbH
due-network-sl	DUE NETWORK S.L.
electrocoin-ltd	ELECTROCOIN Ltd

Showing 60 of 158. The full list is in the register itself (link above).

Muu krüptovara pakkujad või kauplemisele võtmist taotlevad isikud (offerors of other crypto-assets / persons seeking admission to trading)

Registered issuers · 5 entries

Finantsinspektsioon (Estonian FSA) · source · read 2026-10-14

Register no.	Name
alphamind-ou	Alphamind OÜ
axenor-holdings-ou	Axenor Holdings OÜ
charttower-corp-ou	ChartTower Corp. OÜ
hitower-labs-ou	Hitower Labs OÜ
playnance-ou	Playnance OÜ

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