Finland’s president has approved a law to regulate cryptocurrency service providers including exchanges, custodian wallet providers, and issuers of cryptocurrencies. The law will enter into force next week. Crypto service providers will need to register with the country’s Financial Supervisory Authority and meet statutory requirements.
Also read: Indian Supreme Court Postpones Crypto Case at Government’s Request
Finland Approves Crypto Law
Finland’s Ministry of Finance announced Friday that the president of the country has approved the Act on Virtual Currency Providers. The Finnish Financial Supervisory Authority (Fin-FSA), responsible for regulating Finland’s financial markets, independently announced Friday:
The Act on Virtual Currency Providers enters into force on 1 May. In accordance with the act, the Financial Supervisory Authority (Fin-FSA) will act as the registration authority and supervisory authority for virtual currency providers.
The Fin-FSA explained that registration is…