Cryptocurrency in Finland

    Finland has taken the position of regulating cryptocurrency in order to focus on investor protection and the integrity of the market. Although digital assets, including Bitcoin and Ethereum, are not legal tenders, they are now widespread forms of online trading, saving, and payment. The crypto service business is brought under national and EU regulation, which would mean consumer protection and transparency.

    The crypto ecosystem in Finland is facilitated by highly tech-savvy citizens, good internet penetration rate, and an increasing desire to use blockchain in both public and private sectors. As the number of users and institutional demand grow, the crypto market in Finland is developing in a properly regulated environment.

    Crypto in Finland – The Current Scene

    In 2025, the crypto market in Finland is estimated to generate US$365.2 million in revenues with a 2.35 percent annual increase rate, resulting in US$373.8 million in 2026. In 2025, it is predicted that each crypto user in Finland will bring US$162.5 in revenue. This will give the market 2.29 million users by 2026, establishing a 40.81% penetration rate.

    The famous exchanges are Binance, Coinbase, and Bit2Me, where global assets such as Bitcoin, Ethereum, and stablecoins are available to the users. The main crypto utilities are investing, transferring assets, and trying out Web3 applications, such as NFTs and DeFi tools.

    Key Timeline of Crypto Developments in Finland

    • 2018: Government Proposal HE 167/2018 introduces crypto regulation plans.
    • 2019: The Act on Virtual Currency Providers comes into force.
    • 2019: The Financial Supervisory Authority (Fin-FSA) becomes the registration and supervisory body.
    • 2020-2024: Steady user growth driven by increased institutional interest and retail participation.
    • 2025: Estimated revenue exceeds $365 million, with over 2 million users in the market.

    Finland’s Crypto Market Overview

    The crypto market in Finland is developing sustainably and is concerned with user protection and regulation. The extensive use of the internet and digital banking systems means that citizens can readily get cryptocurrency-related services via exchanges, wallets, and trading applications. The most prominent use cases are cross-border transfers, speculative investment, and blockchain experimentation.

    Major assets such as Bitcoin and Ethereum, as well as stablecoins and altcoins are supported in the country. The trading will be centralized on global exchanges such as Binance and Bit2Me that are in compliance with the Finnish AML legislation.

    Regulation of Crypto in Finland

    Cryptocurrencies are legal in Finland and regulated under the Act on Virtual Currency Providers, which took effect on May 1, 2019. The Fin-FSA supervises providers such as exchanges and custodial wallet services. All service providers must register, separate client funds, and comply with anti-money laundering and CFT laws under the EU 5th AMLD framework.

    In Progress – Regulation

    • Crypto firms must meet strict reliability and client fund protection standards.
    • KYC and AML compliance is mandatory.
    • The upcoming MiCA (Markets in Crypto Assets) regulation may expand oversight.
    • Future reforms could enhance consumer protection and transparency.

    List of Finland Crypto Exchanges & Platforms

    Finnish users trade on both local and global platforms. Bit2Me, Binance, and Coinbase are widely used, supporting fiat onramps and instant trades. Exchanges must be registered with the Fin-FSA and comply with EU-wide crypto service standards.

    Bit2Me also offers wallets, debit cards, and token services in Finland, complying with local regulations.

    Cryptocurrency Wallets in Finland

    Crypto users in Finland prefer global wallet apps like Trust Wallet, Ledger, and MetaMask. These support DeFi access, staking, and NFT storage. Licensed providers offer secure wallets with fiat integration and identity verification.

    Cold wallets are widely used for added protection, especially among long-term holders and high-value investors.

    The Taxation of Cryptocurrency in Finland

    Cryptocurrency transactions are subject to capital gains tax. Key tax scenarios include:

    • Conversion of crypto to fiat
    • Exchange of one crypto to another
    • Using crypto for purchases or services

    Profits are taxed as capital income, while business activities involving crypto follow corporate tax rules. Losses can be deducted, and all activity must be reported to tax authorities.

    Crypto Community & Education in Finland

    Finland's crypto community includes developers, academics, legal experts, and blockchain startups. Universities are beginning to integrate blockchain into tech programs. Online platforms like Bit2Me Academy provide crypto literacy, while community events and meetups promote awareness and safe practices.

    Government and fintech circles continue to explore blockchain for identity, voting, and supply chain transparency.

    The Future of Cryptocurrency in Finland

    Finland’s crypto future is built on responsible innovation. With clear regulation, institutional support, and ongoing user growth, the country aims to remain competitive in Europe’s digital asset sector.

    Looking forward:

    • Integration of MiCA rules for uniform EU crypto oversight
    • Enhanced tools for risk-free user onboarding and asset custody
    • Increased adoption of tokenized assets and smart contract platforms
    • Ongoing research on blockchain applications in government services

    Frequently Asked Questions (FAQs)

    1. Is cryptocurrency accepted in Finland?

    The answer is yes, cryptocurrency purchase, sale, and utilization are not prohibited in Finland. The business is governed by the Act on Virtual Currency Providers. Every service provider has to be entered in the Financial Supervisory Authority (Fin-FSA).

    2. Do you have to regulate crypto exchanges in Finland?

    Yep, crypto exchanges have to be registered and follow the anti-money laundering law. They are overseen by the Fin-FSA. The legal entities are only allowed to operate in the country.

    3. Is crypto gain taxable in Finland?

    And the answer is yes, profits on crypto trading are taxed as capital gain. The Finnish Tax Administration demands appropriate reporting of any gains. One can also deduct losses in taxable income.

    4. Do foreigners have an opportunity to open crypto businesses in Finland?

    Yes, foreigners may also establish crypto businesses having the Finnish presence. They are required to adhere to AML and KYC requirements. Registration and compliance on the local level are required.

    5. Is Finland planning to issue a central bank digital currency (CBDC)?

    Finland is not currently working on a CBDC of its own but contributes to EU-level digital euro efforts. The Bank of Finland is involved in the corresponding discussion. It has no official launch date.

    6. Are stablecoins legal in Finland?

    Stablecoins, yes, they are allowed and rather widely used on licensed platforms. They are famous in trade and remittances. Service providers must be ready to be regulated.

    7. Are DeFi and NFTs in Finland?

    Yes, Finnish users are involved in DeFi protocols and NFT platforms. Developers are venturing into blockchain innovations both domestically and internationally. The regulation around these tools is developing.

    8. Does Finland have blockchain education?

    Indeed, some universities and online platforms offer training and research in blockchain. Events and workshops are located in fintech hubs. There is also an increase in public awareness.

    9. Is it possible to pay in crypto in Finland?

    Yes, there are merchants who accept cryptocurrency, but it is not legal tender. Crypto payment should be made in accordance with tax and reporting. Use is by merchant preference.

    10. Do crypto scams exist in Finland?

    And the answer is yes, there are still scams such as phishing and Ponzi schemes. Regulators promote licensed exchanges and safe wallets. These risks are being lowered through public education.