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.