Finland: Fintech Finland Consults on Draft Regulations and Guidelines for Virtual Currency Providers

On May 28, 2019, Fintech Finland launched a consultation on the Financial Supervisory Authority's draft Regulations and Guidelines for Virtual Currency Providers (4/2019).

The aims of these regulations include:
  • Providing guidelines and recommendations with regard to maintenance of customer funds.
  • Instructions to virtual currency providers and compliance with provisions.
  • Guidance on market entry and registration process.
  • Guidance on requirements laid down under the Financial Supervisory Act, specifically for natural or legal persons to fulfil the registration requirements.
  • Regulating and providing instructions on the protection and proper preservation of virtual currencies belonging to customer assets.

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