Penalty payment of EUR 500,000 to LocalBitcoins Oy for failures to comply with anti-money laundering regulations

The overall assessment concerning the amount of the penalty payment took account of the nature, extent and duration of the non-compliance with a key obligation in anti-money laundering (AML). The financial position of LocalBitcoins Oy was also taken into consideration in the assessment.

The failures were discovered in an inspection conducted by the FIN-FSA in 2024, the purpose of which was to examine how LocalBitcoins Oy executes, among other things, counter-terrorist financing and anti-money laundering measures.

The penalty payment is payable to the State.

The FIN-FSA’s decision is not yet legally binding. LocalBitcoins Oy has the right to appeal the decision adopted on 2 June 2025 to the Helsinki Administrative Court within 30 days of receipt of the decision.

For further information, please contact

Janne Häyrynen, Head of Unit, Legal. Requests for interviews are coordinated by FIN-FSA Communications, tel +358 9 183 5030 (weekdays 9.00–16.00).

Appendix

Decision of the Financial Supervisory Authority (pdf, in Finnish)

See also

• Administrative sanctions
• FIN-FSA decisions