Agenda Profile: Varro Vooglaid
Third Reading of the Draft Act on the Crypto-Asset Market (Bill 398 SE)
2024-06-05
15th Riigikogu, 3rd session, plenary sitting
Political Position
The political stance is strongly opposed to Draft Bill 398 SE (the Cryptocurrency Market Law), as it is anti-business and overly bureaucratic. The speaker highlights the government’s systematic failure in establishing a business-friendly environment, criticizing aggressive tax increases and the growing bureaucratic burden. The position is strongly value-driven and results-oriented, focusing on the necessity of restoring Estonia’s reputation as an IT state.
2 Speeches Analyzed
Topic Expertise
The speaker demonstrates a detailed understanding of cryptocurrency regulation, MiCAR, licensing procedures (including issues between RAB and FI), and the requirements concerning the composition of the management council. This expertise is grounded in a lengthy and technical quote from a fintech sector entrepreneur, which contains specific references to legislative amendments and supervisory authorities. Criticism is also leveled at the statements made by Kilvar Kessler, the head of the Financial Supervision Authority, regarding a lack of competence.
2 Speeches Analyzed
Rhetorical Style
The rhetorical style is combative and insistent, expressing regret and profound incomprehension regarding the government's actions. Both technical details (a lengthy quote) and emotionally charged criticism are employed, describing the situation as "schizophrenic" and the government's actions as being "on a course of complete sector destruction." The tone is formal, yet extremely critical and accusatory.
2 Speeches Analyzed
Activity Patterns
The data is limited to two consecutive speeches delivered during the Riigikogu session concerning the third reading of the same draft bill. Earlier participation in the committee work is mentioned, where the criticism raised by entrepreneurs was not heeded. The speaker also alluded to the temptation to discuss the car tax, which demonstrates a readiness to address other pressing current issues as well.
2 Speeches Analyzed
Opposition Stance
The primary adversary is the ruling coalition, especially the Reform Party, which is accused of systematically stifling entrepreneurship and being untrustworthy. The criticism is intense, focusing on political missteps (bureaucracy, taxes) and the application of a presumption of guilt toward business owners. The government’s actions are viewed as baffling and destructive to the country’s business-friendly reputation.
2 Speeches Analyzed
Collaboration Style
The approach to cooperation is faction-based (the EKRE faction votes against) and relies on close communication with entrepreneurs and professional associations in the financial technology sector, whose positions are quoted at length. External experts are regarded as a reliable source of knowledge, whose proposals the government has not considered. No willingness to compromise with the governing coalition on the issue in question is expressed.
2 Speeches Analyzed
Regional Focus
The focus is twofold: the national level (Estonia's business environment and its reputation as an e-state) and the international level, where Estonia's regulatory approach is compared against MiCAR and the proactive campaigns launched by neighboring countries (Latvia, Lithuania). Emphasis is placed on the necessity of attracting foreign investment and globally active players back to Estonia.
2 Speeches Analyzed
Economic Views
Economic views strongly favor entrepreneurship, demanding a reduction in bureaucratic burden and opposition to tax hikes. The goal is to restore an entrepreneur-friendly reputation in order to attract hundreds of millions in foreign investments to Estonia and create high-paying jobs. They also oppose extensive interference with banking secrecy and the application of the presumption of guilt toward entrepreneurs.
2 Speeches Analyzed
Social Issues
There is not enough data.
2 Speeches Analyzed
Legislative Focus
The legislative focus centers on opposing the draft law on the crypto-asset market (398 SE), highlighting its deficiencies concerning licensing procedures and unreasonable requirements. The speaker is a strong opponent of the bill, demanding that expert amendments be taken into account. Also mentioned are the proposed intervention into banking secrecy and the topic of the car tax.
2 Speeches Analyzed