Yes, it is!
The company Kriptomat OÜ was established in Estonia, which is one of the most progressive regulators when it comes to technology. Estonia has already started regulating digital currencies by introducing licenses for Crypto Exchanges and Crypto Wallets. This falls under the authority of the Financial Intelligence Unit.
Kriptomat OÜ has been issued operating licenses by the Financial Intelligence Unit for:
• Providing services of exchanging a virtual currency against a fiat currency (License No. FVR000079 - LINK)
• Providing a virtual currency wallet service (License No. FRK000060 - LINK)
Let us give you a brief overview of these licenses. Estonian Cryptocurrency Exchanges are defined in Estonian law as Providers of Alternative Means of Payment, licensed as an Estonian Financial Institution by holding a Financial Activity License from the Estonian Financial Intelligence Unit (FIU), which is the Anti Money Laundering (AML) authority in Estonia with the ability to grant, revoke and supervise financial activity licenses. AML and KYC requirements that the service providers are subject to are set forth in the Estonian Money Laundering and Terrorist Financing Prevention Act and other legal guidelines given by the Estonian Minister of Finance.