The Finnish government and the country's Central Bank attribute cryptocurrencies to high-risk assets and do not rank them as “real” money. Government agencies and the financial regulator consider Bitcoin and other non-fiat funds as instruments of payment, counting of “non-existing” assets, emphasizing their speculative nature and high risks.
In Finland, the exchange operations, cryptocurrency trading are classified as private contracts (as contracts for price differences) and are subject to capital gains taxes. They are high: from the income from the non-fiat funds conversion into the fiat ones, as well as for the goods purchasing for a cryptocurrency, you need to pay 30-34%. The exact rate depends on the amount earned - up to 30 thousand euros or more. Losses are not subject to the taxation.
Registration of cryptocurrency exchange licenses is not regulated, but the field and issues related to it are the responsibility of the central Finnish regulator - the Financial Supervision Authority (FIN-FSA). The country is a part of the EU, the Schengen zone and, in the field of FinTech business and non-fiat funds, it takes into account the provisions of European directives, positions according to KYC and international AML standards. Therefore, crypto exchanges, exchange platforms that consider the potential of Finnish crypto currency licenses and who want to legalize themselves in the country should:
"Prifinance" will help to simplify the business legalization and establish its work without the law violation. We will select the appropriate jurisdiction, undertake the company registration and obtaining a license for the cryptocurrencies exchange, we will resolve technical, legal and organizational issues.