On February 23, 2022, Estonia adopted an updated version of the law on the prevention of money laundering and terrorist financing. The requirements for authorized capital have been increased: instead of 12,000 euros, the new minimum authorized capital is 100,000 euros for organizations providing “wallet”, exchange and issuance services, and 250,000 euros for organizations engaged in crypto-transfers. The state duty was increased from 3,300 euros to 10,000. Mandatory requirements for annual audits, as well as internal audits, were introduced. The new Law entered into force on March 15, 2022. The new requirements must be applied by market participants by 06/15/2022. Simultaneously with the adoption of new rules, the state began to check and clean up the crypto business, more than 500 licenses of crypto companies that violated the licensing conditions were revoked. Thus, having gradually “tightened the screws”, Estonia is currently losing its attractiveness as a “Crypto Mecca” for medium and small businesses.