Estonian High Court Asks Government to Clarify Stance on Bitcoin

Estonia’s Supreme Court has asked the country’s central bank, two civil authorities and the top financial regulator to clarify their stance on bitcoin.

According to the court’s decision, dated November 19, the issues focus on anti-money laundering (AML) regulations involving bitcoin activities, as well as the broader nature of financial technology. The Estonian Ministry of Interior and Finance Eesti Pank, as well as the Estonian Financial Supervisory Authority, have until January 11 to respond to the court’s request.

Last year, Otto de Voogd, the operator of Estonian bitcoin exchange BTC.ee, filed a lawsuit after facing pressure from law enforcement. Trading on the platform was suspended in February 2014 due to what he described as threats from Estonian police.

Financial intelligence officers from the Estonian Police and Border Guard Board contacted de Voogd and told him that under national law he was required to provide information about BTC.ee users and prove that his exchange was compliant with national law. In addition, a representative from the Estonian police denied that de Voogd had received any threats.

In a post on his personal Facebook page over the weekend, de Voogd outlined the Supreme Court's decision and said the move "will show the true face of the Estonian state when it comes to dealing with disruptive innovations that were not created by the state itself."

De Voogd later told CoinDesk:

“It will be interesting to see how these state agencies answer the Supreme Court, especially if they still insist on being harsh and strict about Bitcoin.”

According to de Voogd, the case may eventually go to the European Court of Justice, which, following Sweden’s lead, ruled that bitcoin transactions are exempt from value-added tax (VAT).

Original article: http://www.coindesk.com/estonia-supreme-court-government-bitcoin-stance/
By Stan Higgins
Translation: Free and easy
Editor: Satuoxi
Source (translation): Babbitt Information (http://www.8btc.com/estonia-supreme-court ‎)