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Finland’s Financial Supervisory Authority (FIN-FSA) has announced its review of topical supervisory themes, including the full application of the European Union Regulation on Markets in Crypto-Assets (MiCA), which regulates crypto-asset services. This announcement was made in a press release on April 3, 2025.
According to FIN-FSA, the EU Regulation on MiCA became fully applicable on December 30, 2024. It requires crypto-asset service providers to comply with financial market requirements such as management competence, own funds, data transparency, and information security. Companies already operating in the market have been granted transitional periods that vary across Europe. Finland's six-month transitional period is one of the shortest, with many countries having periods ranging from 12 to 18 months. Finland currently has 13 registered virtual currency providers. To continue operations after June 30, these providers must obtain authorization under MiCA. The FIN-FSA is processing authorization applications from eight companies.
"This means that consumers purchasing crypto-assets or crypto-asset services from outside Finland should be careful," said FIN-FSA Director General Tero Kurenmaa. He emphasized that "the level of regulatory requirements will vary significantly between countries during the transitional period." Kurenmaa also noted that "it is important for consumers to note that MiCA does not provide protection for services purchased outside the EU and EEA."
