Session Profile: Anastassia Kovalenko-Kõlvart

As a representative of the Centre Party faction, strong opposition is expressed to the government’s plan concerning the regulation of the crypto market. He/She emphasizes that any changes must be accompanied by reasonable advance notice and impact analyses, and criticizes the short notification deadlines and excessive requirements that are not mandated by the regulation itself. He/She links this objective to protecting the stability of investments and entrepreneurship, and is prepared to withdraw the draft bill or significantly rephrase it. The ultimate goal is to maintain the competitiveness of Estonian crypto asset operations and avoid excessive bureaucracy.

He demonstrates expertise in cryptocurrency regulation, AML requirements, and the relevant supervisory structures (the Financial Intelligence Unit and the Financial Supervisory Authority). He also highlights the importance of impact assessments and the transitional matters associated with transposing the European Union regulation.

The emphasis is decidedly critical and direct; it uses concrete examples and questions to draw attention to the necessity of impact assessments and transitions. The linguistic style is formal yet critical, focusing on practical problems and their implications.

He spoke multiple times during the same session on April 9, 2024, and addressed the ministers. He requested additional time and put forward specific questions and proposals aimed at rejecting the draft legislation.

Stance: strong opposition; against the draft bill and a desire to reject the bill; criticism focuses on the impact of excessive requirements and rapid regulation, as well as the alleged objective of market cleansing.

A factional approach; represents the position of the party and the faction, but does not clearly demonstrate readiness for broader cooperation or compromise; the emphasis is on their own position.

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Economically, emphasis is placed on a stable and predictable business environment; [the subject] is critical of rapid or excessive tax changes and stringent regulations, as these could drive investments outside of Estonia. He/She stresses the need for impact assessments and transparent regulation to prevent investment losses.

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The primary focus is the draft law concerning the crypto-asset market and related issues surrounding its transposition, specifically: impact assessments, the transfer of oversight from the Financial Intelligence Unit to the Financial Supervision Authority, the short transition period, and the revocation of existing licenses; emphasizing the adoption or significant modification of the draft legislation.