Finland's Financial Supervisory Authority, or FIN-FSA, has published a thematic review finding several deficiencies in how crypto-asset service providers market services and products and deliver pre-contractual information. The review, carried out in autumn 2025 on then-authorised crypto-asset service providers, found the most significant shortcomings in risk disclosure, the balanced and clear presentation of information, and the provision of prior information required under the Consumer Protection Act. FIN-FSA requires providers to consider the findings and take the corrective measures needed to ensure compliance. The review found that risks linked to crypto-assets and crypto-asset services were often not described sufficiently or in a balanced way, while relevant information was frequently hard for clients to find and sometimes contained clear errors. Websites often failed to distinguish adequately between different crypto-assets, including between well-established assets and newer, less liquid assets such as meme coins. Marketing also placed particular emphasis on quick and easy onboarding, referred to firms being Finnish and supervised by FIN-FSA, and promoted the notion of investing in crypto-assets safely. Internal controls were also weak in some firms, with gaps in marketing guidelines, social media approval processes and competence requirements for marketing staff. On pre-contractual disclosures, some firms did not provide statutory prior information personally to clients, buried key information such as risk disclosures in terms of use that could easily be bypassed during onboarding, or spread required information across different website sections and documents. The review was conducted in the context of the European Union's Markets in Crypto-Assets Regulation, which has applied since 30 December 2024, with Finland's six-month transitional period ending on 30 June 2025. FIN-FSA also noted that chapter 6 a of the Consumer Protection Act will be amended from 19 June 2026 and that crypto-asset service providers must take those new requirements into account.
Finanssivalvonta2026-06-16
Finland's Financial Supervisory Authority identifies deficiencies in crypto-asset marketing and pre-contractual disclosures, calls for corrective action
Finland's Financial Supervisory Authority found multiple deficiencies in the marketing of crypto-asset services and related pre-contractual information in a thematic review of then-authorised providers. The main issues were weak and unbalanced risk disclosure, unclear and hard-to-find information, and failures to provide statutory prior information under the Consumer Protection Act. The authority told providers to correct the shortcomings and ensure compliance.