Agenda Profile: Maris Lauri
First Reading of the Crypto-Asset Market Act Bill (398 SE)
2024-04-09
15th Riigikogu, 3rd sitting, plenary session
Political Position
Strong political support exists for adopting the draft law on the crypto-asset market, emphasizing the need to tighten regulations and bring them into line with European Union requirements. This stance is policy-driven and results-oriented, focusing on fixing the previously lax regulations that attracted foreign service providers to Estonia. The bill is supported as a necessary step to ensure security and trustworthiness.
1 Speeches Analyzed
Topic Expertise
The speaker demonstrates high technical expertise in the field of financial regulation and corporate law. He/She addresses in detail the requirements imposed on the crypto market, the liability limits (5–15 million), and the cooperation between the Financial Supervisory Authority and the Financial Intelligence Unit (RAB). The expertise relies on clarifying the specific differences between European Union regulations and Estonian business law.
1 Speeches Analyzed
Rhetorical Style
The rhetorical style is formal, procedural, and analytical, characteristic of a steering committee report. The speaker focuses on logical arguments, presenting summaries of the committee's discussions, decisions, and technical details. The tone is neutral and informative, avoiding emotional appeals.
1 Speeches Analyzed
Activity Patterns
The speaker's work primarily focuses on legislative duties within the committee, presenting a report to the plenary session regarding the Finance Committee meeting held on April 4th. He/She has been appointed as the representative of the bill's lead committee and is closely involved in consultations with representatives from ministries and supervisory authorities.
1 Speeches Analyzed
Opposition Stance
The speaker acknowledges concerns that the draft bill might drive the sector out of Estonia, but addresses them factually, pointing out that the previously lax regulation was the actual problem. Direct criticism is leveled at the former Estonian regulation, which was "very loose" and attracted service providers to Estonia who were not actually operating here.
1 Speeches Analyzed
Collaboration Style
The style of cooperation is institutional, emphasizing internal commission consensus (decisions were adopted with 8 votes in favor) and strong cooperation between the Financial Supervisory Authority and the Financial Intelligence Unit. The speaker himself/herself has been appointed as the commission's representative, which demonstrates the trust placed in him/her by colleagues.
1 Speeches Analyzed
Regional Focus
The focus is divided between the domestic level (Estonian business law, corporate law) and the international/supranational level (implementation of European Union regulations). Emphasis is placed on the need to bring the Estonian regulatory framework into compliance with European-level regulations.
1 Speeches Analyzed
Economic Views
Economic perspectives advocate for strict regulation and financial discipline, stressing that previous lax regulation proved detrimental. While acknowledging that this tightening may result in market contraction, it is deemed essential to ensure security and reliability. The preference is for stringent requirements concerning management, ownership, and internal procedures.
1 Speeches Analyzed
Social Issues
Insufficient data.
1 Speeches Analyzed
Legislative Focus
The legislative focus is currently on the draft law concerning the crypto-asset market (Bill 398 SE), the purpose of which is to implement the European Union regulation and simultaneously tighten domestic requirements for crypto service providers. The speaker is a proponent of the bill and a representative of the lead committee, who is concluding the first reading of the legislation.
1 Speeches Analyzed