Crypto-asset activities

EBA Guidelines (EBA/GL/2024/11) on information requirements in relation to transfers of funds and certain crypto-assets transfers under Regulation (EU) 2023/1113

  • The Guidelines will apply from 30 December 2024

Scope of application

  • credit institutions providing payment services
  • holding companies of credit institutions providing payment services and holding companies of conglomerates referred to the Act on the Supervision of Financial and Insurance conglomerates
  • payment institutions
  • natural persons or legal persons providing a payment service without an authorisation
  • branches located in Finland of foreign credit institutions providing payment services
  • branches of payment institutions located in Finland
  • crypto-asset service providers
  • branches located in Finland of crypto-asset service providers

Financial Supervisory Authority’s more specific guidance

  • The Financial Supervisory Authority (FIN-FSA) recommends that entities and persons within the scope of these Guidelines fulfil their obligations in accordance with Article 8(2) and Article 12(2) of Regulation (EU) 2023/1113 to notify the FIN-FSA of failure to provide required information on the payer or the payee, and the steps taken, using the form template available in the FIN-FSA’s website (link). Notifications should be made, in accordance with the European Supervisory Authorities’ Guidelines, to the FIN-FSA without delay and at the latest within three months of the detection of repeated failure on the part of the payment service provider. Notifications should be sent to the address maksuntiedot@fiva.fi
  • The FIN-FSA recommends that entities and persons within the scope of these Guidelines fulfil their obligations in accordance with Article 17(2) and 21(2) of Regulation (EU) 2023/1113 to notify the FIN-FSA of failure to provide required information on the originator or the beneficiary, and the steps taken, using the form template available in the FIN-FSA’s website (link). Notifications should be made, in accordance with the European Supervisory Authorities’ Guidelines, to the FIN-FSA without delay and at the latest within three months of the detection of repeated failure on the part of the crypto-asset service provider. Notifications should be sent to the address maksuntiedot@fiva.fi
  • The FIN-FSA recommends that entities and persons within the scope of these Guidelines prepare policies and procedures, based on the European Supervisory Authorities’ Guidelines, to comply with the obligations laid down in Regulation 2023/1113.

Related to these Guidelines

Releases

  • EBA Guidelines (EBA/GL/2024/11) on information requirements for transfers of funds and certain crypto-assets transfers under Regulation (EU) 2023/1113

Contacts

Viivi Jantunen, Senior Specialist, telephone +358 9 183 5008, email viivi.jantunen(at)fiva.fi

Joint EBA and ESMA Guidelines on the assessment of the suitability of the members of the management body of issuers of asset-referenced tokens and of crypto-asset service providers EBA/GL/2024/09, ESMA75-453128700-10

Date of application The Guidelines will apply from 4 February 2025

Scope of application of the Guidelines

  • issuers of asset-referenced tokens
  • crypto-asset service providers
  • central securities depository
  • electronic money institutions
  • fund management companies
  • alternative investment fund managers (authorised)
  • stock exchange

Finnish Financial Supervisory Authority’s more specific guidance

  • Information as referred to in the joint EBA and ESMA Guidelines shall be submitted to the Financial Supervisory Authority’s Registry:
    • postal address: Financial Supervisory Authority,  P.O. Box 103, FI-00101 Helsinki, Finland
    • tel.  09 183 5339 (national hotline number with no additional charge), +358 9 183 5339 (international number) fax +358 9 183 5328
    • registry(at)fiva.fi
  • Information as referred to in the joint EBA and ESMA Guidelines shall be submitted as part of the authorisation application of an asset-reference token (ART) issuer or a crypto-asset service provider. See Authorisations, registrations and notifications: Crypto-asset activities. In addition, an authorised ART issuer or a crypto-asset service provider, or pursuant to Article 60, paragraphs 2, 4, 5 or 6 of Regulation (EU) 2023/1114 (MiCA Regulation), financial entities providing crypto-asset services (central securites depository, electronic money institution, management company, authorised alternative investment fund manager or stock exchange) shall submit the information in situations as referred to in section C.3 of the Joint EBA and ESMA Guidelines or if separately required by the Financial Supervisory Authority.

Related to these Guidelines

 Releases

 Contacts

Tytti Tanninen, Senior Supervisor
Telephone +358 9 183 5533, email: tytti.tanninen(at)fiva.fi

ESMA's guidelines on the specification of Union standards for the maintenance of systems and security access protocols for offerors and persons seeking admission to trading of crypto-assets other than asset referenced tokens and e-money token (ESMA75-223375936-6132)

  • The Guidelines will apply from 28 April 2025

Scope of application

  • Persons offering and/or applying to trading other crypto assets than asset-referenced tokens (ART) and electronic money tokens (EMT)

Related to these Guidelines

Contact information

Tytti Tanninen, Senior Supervisor
Telephone +358 9 183 5533, email: tytti.tanninen(at)finanssivalvonta.fi

Janne Bohndieck, Supervisor
Telephone 09 183 5459, email: janne.bohndieck(at)finanssivalvonta.fi

 

ESMA's guidelines on situations in which a third-country firm is deemed to solicit clients established or situated in the EU and the supervision practices to detect and prevent circumvention of the reverse solicitation exemption under the Markets in Crypto Assets Regulation (MiCA) (ESMA35-1872330276-2030)

  • The Guidelines will apply from 28 April 2025

Scope of application

  • The guideline applies to reverse solicitation of crypto-asset services from outside the EEA, i.e., from third countries.
  • The guideline does not apply to a crypto-asset service provider that is authorised within the EEA.

Related to these guidelines

Contact information

Tytti Tanninen, Senior Supervisor
Telephone +358 9 183 5533, email: tytti.tanninen(at)finanssivalvonta.fi

Janne Bohndieck, Supervisor
Telephone 09 183 5459, email: janne.bohndieck(at)finanssivalvonta.fi

ESMA's guidelines on the procedures and policies, including the rights of clients, in the context of transfer services for crypto-assets under the Markets in Crypto Assets Regulation (MiCA) on investor protection (ESMA35-1872330276-2032)

  • The Guidelines will apply from 28 April 2025

Scope of application

  • Crypto-asset service providers referred to in Section 4, Subsection 2, Paragraph 17 of the Act on the Financial Supervisory Authority, whose authorisation includes the right to offer crypto-asset transfer services on behalf of clients
  • Payment service providers, if the payment service or transaction meets the definition of a transfer service as set out in Article 3(1)(26) of the MiCA Regulation

Related to these Guidelines

Contact information

Tytti Tanninen, Senior Supervisor
Telephone +358 9 183 5533, email: tytti.tanninen(at)finanssivalvonta.fi

Janne Bohndieck, Supervisor
Telephone 09 183 5459, email: janne.bohndieck(at)finanssivalvonta.fi

ESMA's guidelines on the conditions and criteria for the qualification of crypto-assets as financial instruments (ESMA75453128700-1323)

  • The Guidelines will apply from 19 May 2025

Scope of application

  • The guideline applies to issuers and offerors of crypto-assets
  • The guideline applies to all parties engaged in activities related to crypto-assests

Related to these guidelines

Contact information

Tytti Tanninen, Senior Supervisor
Telephone +358 9 183 5533, email: tytti.tanninen(at)finanssivalvonta.fi

Janne Bohndieck, Supervisor
Telephone 09 183 5459, email: janne.bohndieck(at)finanssivalvonta.fi

ESMA's guidelines on certain aspects of the suitability requirements and format of the periodic statement for portfolio management activities under the Markets in Crypto Assets Regulation (MiCA) (ESMA35-1872330275-2031)

  • The Guidelines will apply from 27 May 2025

Scope of application

  • crypto asset service providers providing advise and/or portfolio management on crypto assets

Related to these guidelines

Contact information

Tytti Tanninen, Senior Supervisor
Telephone +358 9 183 5533, email: tytti.tanninen(at)finanssivalvonta.fi

Janne Bohndieck, Supervisor
Telephone 09 183 5459, email: janne.bohndieck(at)finanssivalvonta.fi

Joint guidelines on templates for explanations and opinions, and the standardised test for crypto-assets, under Article 97(1) of Regulation (EU) 2023/1114 (JC 2024 28)

  • The Guidelines will apply from 12 May 2025

Scope of application

  • Persons offering and/or applying to trading other crypto assets than electronic money tokens (EMT)
  • Operators of crypto-asset trading platforms

Related to these guidelines

Contact information

Tytti Tanninen, Senior Supervisor
Telephone +358 9 183 5533, email: tytti.tanninen(at)finanssivalvonta.fi

Janne Bohndieck, Supervisor
Telephone 09 183 5459, email: janne.bohndieck(at)finanssivalvonta.fi

Joint Guidelines of the European Supervisory Authorities on the estimation of aggregated annual costs and losses caused by major ICT-related incidents under Regulation (EU) 2022/2554 (JC/2024/34)

  • The Guidelines will apply from 19.5.2025

Scope of application of the Guidelines

  • Supervisory entities regulated by (EU) 2022/2554 (DORA)

Finnish Financial Supervisory Authority’s more specific guidance

Releases

Contacts

Pasi Korhonen, Chief Specialist
tel. +358 9 183 5514, e-mail: pasi.korhonen(at)fiva.fi

EBA Guidelines on internal policies, procedures and controls to ensure the implementation of Union and national restrictive measures under Regulation (EU) 2023/1113 (EBA/GL/2024/15)

  • The Guidelines will apply from 30 December 2025.

Scope of application

Financial institutions providing transfer of funds services as defined in Article 4, point (1) of Regulation (EU) No 1093/2010, which are PSPs as defined in Article 3, point (5) of Regulation (EU) 2023/1113 and CASPs as defined in Article 3, point (15) of Regulation (EU) 2023/1113:

  • credit institutions providing payment services
  • branches located in Finland of foreign credit institutions providing payment services
  • payment institutions
  • natural persons or legal persons providing a payment service without an authorisation
  • branches of foreign payment institutions located in Finland
  • electronic money institutions
  • natural persons or legal persons providing issuance of electronic money without an authorisation
  • branches of foreign electronic money institutions located in Finland
  • crypto-asset service providers
  • branches located in Finland of foreign crypto-asset service providers

Financial Supervisory Authority’s more specific guidance

  • The FIN-FSA will make the necessary amendments related to the above-mentioned EBA Guidelines to its Regulations and guidelines 4/2023 Customer due diligence related to compliance with sanctions regulation and national freezing orders.

Related to these Guidelines

Releases

Contacts

Anssi Leisio, Chief Specialist
telephone +358 9 183 5524, email: anssi.leisio(at)fiva.fi