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BTCC / BTCC Square / Global Cryptocurrency /
Estonia Suspends Zondacrypto’s License Amid Bankruptcy Proceedings

Estonia Suspends Zondacrypto’s License Amid Bankruptcy Proceedings

Global Cryptocurrency
Author:
Global Cryptocurrency
Release Time:
2026-05-19 16:16:01
0
BTCCSquare news:

Estonia's Financial Intelligence Unit (FIU) has suspended the license of BB Trade OÜ, the local entity operating Zondacrypto, a now-collapsed Polish-rooted exchange. The regulator barred the firm from accepting new clients or funds but clarified existing users could still withdraw assets.

The FIU issued the 30-day suspension under anti-money laundering laws, demanding compliance with licensing requirements. Failure to rectify violations risks permanent revocation. Lawyers for affected clients have filed a bankruptcy motion, alleging losses from the exchange's collapse last month.

Once a major Central and Eastern European platform, Zondacrypto's downfall highlights tightening regulatory scrutiny. The FIU advised aggrieved users to contact law enforcement regarding unrecoverable assets.

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