Act 2024
Laki kryptovarapalvelun tarjoajista ja kryptovaramarkkinoista 402/2024 (Act on Crypto-Asset Service Providers and Crypto-Asset Markets)
Issued by Finanssivalvonta (Financial Supervisory Authority)
Plain-English summary
Supplements the EU Markets in Crypto-Assets Regulation (EU) 2023/1114 in Finland. The Financial Supervisory Authority supervises compliance (section 2); licensing follows the Regulation (section 3); section 26 provides administrative fines and section 28 a crypto-asset offence (fine or up to one year's imprisonment) for unlicensed activity. It repealed the Act on Virtual Currency Providers 572/2019 and its crypto-service provisions apply from 30 December 2024.
Who it applies to
Crypto / VDA
Topics
AML / CFT / Sanctions Market Integrity & Securities Payments & Fintech / Digital Assets
Obligations arising from this law or regulation
| Obligation | Timing | Regulator | Source | Detail |
|---|---|---|---|---|
| Licence for crypto-asset service providers before offering services | Deadline Before offering services; the Finnish transition period for existing providers ended on 30 June 2025 | FIN-FSA | source | |
Section 3 of Act 402/2024 points to the licensing requirements in the EU MiCA Regulation (Article 59 for crypto-asset service providers). Unlicensed activity is a crypto-asset offence under section 28. The Authority's release of 16 June 2026 says a licence has been required since 30 December 2024 and that Finland applied a six-month national transitional period ending 30 June 2025. |
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| No obligations match these filters. | ||||
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