CryptoProcessing by Coinspaid, operated by Dream Finance OÜ, today provides an update regarding its regulatory status following the end of Estonia’s transitional period for virtual asset service providers.
Dream Finance OÜ has submitted an application to the Estonian Financial Supervision and Resolution Authority (Finantsinspektsioon) for authorisation as a Crypto-Asset Service Provider (CASP) under Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA).
The application remains under review by Finantsinspektsioon. No licensing decision has been issued, and the Company’s authorisation status remains subject to the regulator’s assessment and final determination.
In line with the approach communicated by Finantsinspektsioon and the Estonian Money Laundering Data Bureau following the end of the transitional period, Dream Finance OÜ has restricted its active activities pending the outcome of its licence application. Accordingly, the Company does not onboard new clients, open new accounts, enter into new client agreements, expand the scope of services provided to existing clients, or actively market regulated services to clients in the European Economic Area or elsewhere.
These measures are intended to support an orderly transition during the regulatory review process, while safeguarding the interests of existing clients in line with applicable regulatory expectations.
CryptoProcessing continues to support its existing clients in accordance with applicable regulatory requirements and the Company’s wind-down / continuity planning. The existing clients may request the withdrawal or transfer of their assets, or terminate their contractual relationship with the Company at any time, subject to applicable legal and regulatory requirements.
We continue to engage with Finantsinspektsioon throughout the authorisation process. Our priority remains to operate responsibly, maintain robust governance and compliance standards, and ensure the continued protection of our existing clients while the application is under regulatory review.
CryptoProcessing continues to maintain appropriate operational, compliance, risk management, security, and safeguarding arrangements. Client assets remain segregated from the Company’s own assets in accordance with applicable safeguarding requirements and the Company’s established operating procedures.
Dream Finance OÜ will provide further updates as material developments occur or once regulatory decisions have been communicated by Finantsinspektsioon.
