Finland: Act on Virtual Currency Providers

On April 26, 2019, the Financial Supervisory Authority (FIN-FSA) announced that the President has approved the Act on Virtual Currency Providers and a briefing has been arranged for virtual currency providers.

Under the Act on Virtual Currency Providers, the FIN-FSA has been designated as a supervisory authority and registration authority for virtual currency providers, custodian wallet providers and issuers of virtual currencies. The main objective of the act is to bring virtual currency providers within the scope of anti-money laundering regulation, in line with the 5th Anti-Money Laundering Directive (5th AMLD).

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