Charges Dropped Against One Hobbyist Bitcoin Trader
The first criminal case in Estonia on charges of bitcoin trading has been quietly dropped, but it is unclear whether it is a one-off or a precedent.
The unidentified individual in the case that was recently dismissed was charged with not having a registration required for operating in financial services. According to Postimees, the defendant sold two bitcoins worth under 2,000 euros, and said that he did so only due to interest in various IT innovations and said it cannot be considered economic activity in the sense of valid law.
The case is not directly related to the individual who has become publicly most associated with the crypto currency, Otto De Voogd. De Voogd was ordered by the police early this year to cease allowing people to trade small quantities of bitcoin through his btc.ee website. He complied, but later filed an action of his own in which he argues that his site did not allow people to buy and sell unlimited quantities of bitcoin.
The defendant whose charges were dismissed did retain the services of Priit Lätt of Glimstedt law offices on advice from De Voogd.