Finland is one of the coldest regions in the Scandinavia, sharing a border with Sweden and Russia. Luckily for the blockchain community, Finnish positions on the blockchain technology and its digital currencies, bitcoin being the flag-ship, are very warmish! Finnish central bank has made numerous statements about bitcoin having big potential for revolutionizing the way world finance operates. Everyone can agree that such remarks are going to benefit crypto assets but what exactly are the bitcoin regulations in Finland right now and what are some of the exchanges where you can get yourself a stash of BTC? Keep reading to discover all of that, alongside with Finnish online gambling regulations.
Bitcoin Regulations in Finland
You might be surprised to learn that Finland is one of the few countries which believe that bitcoin should not be regulated! Why do they say that? The official statement is following: Bitcoin is a monopoly run by a protocol, not by a managing organization. Familiar monopolies are run by managing organizations with discretion to determine and then change prices, offerings and rules. Monopolies are often regulated to prevent or at least mitigate their abuse of power. Reading a statement like this validates that Finnish folk have elected right people to lead their nation! Bitcoin in Finland is classified as financial services and is completely VAT-exempt!
Finnish Bitcoin Exchanges
Popular bitcoin exchanges such as Coinbase, BitStamp & BTC-Direct offer their services to the Finnish customers. Keep in mind that all of the named exchanges follow "Know Your Customer" policies. You will have to provide personal verification documents. Successful verification will enable you with one of the easiest, convenient ways for acquiring a bitcoin or TWO! Bitcoin ATM's are available throughout the country, you can locate nearest one to you by visiting CoinATMRadar. Peer-to-Peer BTC exchange platforms are a quick place for buying bitcoin without verification. Keep in mind that peer-to-peer nature means that you are performing a trade with another person like yourself. Always check for traders to have 100% positive feedback and never release escrow without them completing their end of the bargain. Be wary of users trying to lure you outside of the escrow platform to complete the deal.
Online Gambling in Finland
Gambling in Finland had always been fully monopolized by the state. Offshore sites are not legally allowed to provide games to Finnish citizens due to not having appropriate licenses but many of them still accept players from Finland. You might want to check into anonymous blockchain casino, poker, and sports books if you are looking to play on an offshore site!