December 1, 2022

Finnish regulator issues LocalBitcoins virtual currency operator license

Finnish Financial Supervisory Authority (FSA) officially registered the popular trading LocalBitcoins P2P platform as a virtual currency operator.

Note that in Finland mayonly registered service providers work. To obtain a license, the company must prove to the regulator that it is carrying out procedures for identifying customers and combating money laundering, and also takes proper care of client funds.

“Finland is a well-functioning society,which keeps trust high. At the same time, control in the financial sector is strong enough and customers are well protected, ”said Sebastian Sonntag, CEO of LocalBitcoins.

This summer, the platform disabled the exchange option.cryptocurrencies in person for cash. Now LocalBitcoins users can use only those types of money transfers that are made with the help of payment operators, for example, bank transfers.