FINLAND
Russia
Sweden
Finland
Law and Practice Contributed by: Jon Hautamäki, Max Atallah and Mikael Huhtala Nordic Law
Helsinki
Contents 1. Overview of Blockchain and Crypto-Assets p.223 1.1 Blockchain p.223 1.2 Crypto-Assets p.225 2. Regulation p.228 2.1 Regulators and International Alignment p.228 2.2 Crypto-Asset Regulatory Frameworks p.228 2.3 Regulated Firms and Legal Wrappers p.229 2.4 Token Issuance p.230 2.5 Market Abuse p.230 2.6 Non-Compliance p.230 3. Licensing and Set-Up Requirements p.231
3.1 Licensing Requirements p.231 3.2 Set-Up Requirements p.231 3.3 Change of Control p.232 3.4 Passporting p.233 4. Cross-Border Services p.233 4.1 Marketing p.233 4.2 White Labelling p.234 5. Decentralised Finance p.234 5.1 Ability to Use DeFi p.234 5.2 DeFi Structures p.234 5.3 Liability p.234 6. Payments and Stablecoins p.235
6.1 Payments p.235 6.2 Stablecoins p.235 7. Tokenisation and Real-World Assets p.236 7.1 Treatment p.236
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