ANALYSIS: Finland Enacts Virtual Currency Law, Russia Still Has Not

May 3, 2019, 11:00 AM

Digital Currency

The parliament of Finland passed an Act on Virtual Currency Providers, which the president of Finland signed into law on April 26. The Act imposes statutory requirements for doing business in Finland as a “virtual currency provider,” a category which includes virtual currency exchange services, custodian wallet providers, and issuers of virtual currencies. It establishes Finland’s Financial Supervisory Authority (FIN-FSA) as the registration and supervisory authority for virtual currency providers, and it applies the requirements of the amendments of 30 May 2018 to the EU Anti-Money Laundering Directive (the Fifth EU Anti-Money Laundering Directive) to virtual ...

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