MiCA CASP authorisation in Finland (FIN-FSA)

Why teams look at Finland

Finland was an early mover, running a registration regime for virtual-currency providers under the FIN-FSA from 2019, well before many EU peers. That gives the supervisor real experience with crypto businesses. Under MiCA’s crypto-asset service provider regime, applying from 30 December 2024, the Financial Supervisory Authority (FIN-FSA) is the authorising authority. Finland suits firms that want a credible Nordic base and a regulator already familiar with the sector.

This page is informational and does not replace legal, regulatory, or tax advice. Confirm current requirements, forms, fees, and timelines directly with the FIN-FSA before acting.

The authorisation route

A firm that is not already an EU-authorised financial entity applies to the FIN-FSA for authorisation as a CASP under Article 62. A firm already authorised under EU financial law can use the lighter Article 60 notification.

Under Article 63 the FIN-FSA has 25 working days to confirm completeness and then 40 working days to decide once the file is complete.

What the FIN-FSA expects

Local substance

A registered office in Finland and management effectively based there under Article 59(2).

Governance and fit-and-proper

Collective crypto-asset competence and sufficient time under Article 68, with assessment of directors and qualifying shareholders.

Custody and client assets

Segregation, reconciliation, a custody policy, and strict liability for loss under Article 75 where you hold client crypto-assets or the means of access.

Prudential safeguards

Own funds, an insurance policy, a comparable guarantee, or a mix under Article 67, at the higher of the class minimum or one quarter of fixed overheads.

Capital and the Article 67 question

The minimum is 50,000 euro, 125,000 euro, or 150,000 euro depending on the services you are authorised for, or one quarter of the previous year’s fixed overheads if higher. If you are weighing insurance against capital, build the evidence first: see the CASP insurance evidence pack and own funds vs insurance.

Coming from a virtual-currency registration

Firms registered under Finland’s earlier virtual-currency provider regime do not convert automatically to a MiCA authorisation. They transition through a process the FIN-FSA manages within a national transitional window. Confirm the current cut-off date and the exact transition steps with the FIN-FSA.

Transitional dates have moved at the member-state level. Confirm any date against current FIN-FSA guidance before planning around it.

FAQ

Is a Finland CASP licence valid across the EU?

Yes. A CASP authorisation passports to all 27 member states under Article 65. You authorise in Finland and notify the host states before providing services there.

How long does it really take?

The legal decision clock is 40 working days after the file is complete, plus a 25 working day completeness check. Preparing a complete file usually takes several months.