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

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

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

• Joint EBA and ESMA Guidelines on the suitability assessment of shareholders and members with qualifying holdings in issuers of ARTs and in CASPs

 Releases

• Joint EBA and ESMA Guidelines on suitability assessment of management body and qualifying holdings of issuers of asset-referenced tokens and crypto-asset service providers – applicable from 4 Feb 2025

 Contacts

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