Finnish regulators publish stricter rules on trading digital currencies

Peru, Lima, Lima

Published 3 years ago

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Finnish regulators publish stricter rules on trading digital currencies

Peru, Lima, Lima,

Published 3 years ago

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In the wake of increased publicity for cryptocurrencies, Finnish regulators have issued a formal notification. On Wednesday, the Finnish Financial Supervisory Authority (FSA) stated:

“Only registered virtual currency providers can trade virtual currencies and related services in Finland. The trading of virtual currencies in Finnish and in Finland is only allowed to entities registered as providers of virtual currencies in Finland. "

Finnish customs are confused about what to do with the 15 million euros seized in Bitcoin

Finland is a very free country economically; it ranks 17th on the Index of Economic Freedom. However, as LocalBitcoins CEO Sebastian Sonntag told Cointelegraph upon receiving the company's FSA license in 2019:

"Controls in the financial sector are of a particularly high quality, and the position of clients is well protected."

It appears that the FSA wants to protect investors, especially retailers, who are more likely to be swayed by marketing activities. If the 2020-2021 bull run meme mania is any guide, there will be more retail FOMOs around the world in the future.