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Finnish regulators tighten the screw on virtual currency marketing
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Hot on the heels of the rising cryptocurrency hype, Finnish regulators have dropped a formal notice. On Nov. 24th, the Financial Supervisory Authority (FIN-FSA) stated:
Finland is a highly economically free country, ranking 17th in the Index for Economic Freedom. However, as LocalBitcoins CEO Sebastian Sonntag told Cointelegraph upon receiving their FSA license in 2019:
It appears that the FSA is keen to protect investors — particularly retail — who are more likely to be influenced by marketing activities. If the 2020–2021 bull runs' meme mania is anything to go by, there will be more retail FOMO across the globe.
The FSA press release is a direct response to the rise in marketing of virtual currencies and related services across Finland.
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