Finland’s financial regulator has granted its first tranche of registrations to cryptocurrency firms, becoming the latest of a growing number of EU member states to give the sector official recognition.
Five virtual currency providers — LocalBitcoins, Northcrypto, Prasos, Prasos Cash Management and Tesseract Group — have been registered and brought under the scope of the Finnish regulator’s anti-money laundering (AML) remit.
As of this week, only those virtual currency firms which have been so registered are permitted to provide services in the country. The registration differs from a traditional payment services licence in that it does not confer passporting rights.
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