Estonia has just over 1.3 million inhabitants and is said to have issued more than 3,000 crypto licenses by June 2020. According to the latest yearbook of the Estonian FIU, the authority issued 667 new licenses for crypto exchanges and 638 licenses for online wallet services in 2019. One can imagine how important cryptocurrencies and crypto licenses are for this small Baltic country. Lawyers and specialized consulting companies and their employees live off them. The FIU is obviously completely overstrained with this regulatory tsunami and should immediately order a stop to new licenses.