Just came back from a visit to Estonia and I was surprised by how they embrace technology in general. The fact that they are so far with adapting the blockchain technology makes me believe they can find a way around the regulations. Aren't cryptocurrencies just currencies for the world? If they create an ICO and it becomes public for all the world to enter, how would this be a currency of Estonia? The fact they accept it as a payment doesn't make it their main currency, right? How would this violate the EU law?
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I am planning to go to Estonia at some point. Who would've thought :) And totally agree that they will find a way around the regulation as it Crypto is not a currency :)
I recommend you to take a tour through the city of Tallinn if you finally decide to go! The guides usually have a lot of knowledge about the country and can explain why they are so innovative and what made them invest in IT . Personally I think this is a very wise decision back then but also a big risk at the time since nobody knew where IT was going. In the end it was a wise investment and the country will benefit from it!