Hello,

Actually in EU main legislation is the same. In previous message I referred to Money Laundering and Terrorist Financing Prevention Act. It is the main nowadays in Estonia which regulate obligation to have license for providing services of exchanging a virtual currency against a fiat currency and providing a virtual currency wallet service. Main question in token value, which rights and goods investor gets, on this depend security terms of the token.   

Estonia is very popular now for ICO projects, one of the reasons is e-residency, which allows distantly operate by company, second reason is no income TAX for company. More info here: https://e-resident.gov.ee/

Some useful information you can find on this official web site of Estonia Finance inspection: https://www.fi.ee/?lang=en

For more information please write privately - info@juridium.eu