Estonia Will Not Create A National Cryptocurrency

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Estonia scaled down its plan to create a national cryptocurrency after it drew criticism from ECB President Mario Draghi and local banking authorities. Draghi’s position was supported by Governor of the Bank of Estonia Ardo Hansson, who complained about “misleading reports” on Estcoin from government agencies. Although Kaspar Korjus, the author of the Estcoin plan, said that details of “community Estcoin” are still being analyzed for potential benefits. He added that Estcoin “would definitely not be a national cryptocurrency. Estonia, for now, is one of the most technologically savvy states in eastern Europe.

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