This thesis is aimed at linking the regulatory discussion about cryptocurrencies with the larger theoretical debate on whether small Member States are able to influence the direction of European...Show moreThis thesis is aimed at linking the regulatory discussion about cryptocurrencies with the larger theoretical debate on whether small Member States are able to influence the direction of European Union [EU] policy making. Research was done in the form of a casestudy on Estonia. The following research question was set: To what extent can Estonia upload domestic policy regarding cryptocurrencies to the EU level? It was found that Estonia’s ability to upload its domestic policy regarding cryptocurrencies to the EU level is now restricted, not because of a lack of capabilities to use available strategies, but mainly because of the lack of clear domestic policy, which at the same time also should not conflict with existing EU regulation. Still, Estonia could be perceived as a leader in the regulatory competition as it is already concerned with reinvention of the innovation of cryptocurrencies: estcoin. Estonia could improve its chances by specifying its plans for reinvention, by focusing on what the common interests would be and by implementing them at the national level first. Another improvement would be to look for regional coordination or strategic partnerships, which would become easier when the plans for estcoin are more defined.Show less