Hot on the heels of the rising cryptocurrency hype, Finnish regulators have dropped a formal notice. On Wednesday, the Finnish Financial Supervisory Potency (FSA) stated:

"Just registered virtual currency providers can market virtual currencies and related services in Finland. The marketing of virtual currencies in Finnish and in Republic of finland is merely immune for entities registered as virtual currency providers in Finland."

Finland is a highly economically free state, ranking 17th in the Index for Economic Freedom. Even so, as LocalBitcoins CEO Sebastian Sonntag told Cointelegraph upon receiving the visitor's FSA license in 2022:

"The controls in the financial sector are of particularly high quality, and the position of the clients is well protected."

It appears that the FSA is keen to protect investors — particularly retail — who are more probable to be influenced by marketing activities. If the 2022–2021 bull run's meme mania is anything to go by, at that place will exist more retail FOMO beyond the globe.

The FSA press release is a direct response to the rise in marketing of digital currencies and related services beyond Finland. Finnish media observed increasing traffic for cryptocurrency articles, while in a contempo editorial by mainstream outlet the Helsinki Times, writers concluded that crypto is trendy in Finland and volition hold its popularity for years to come.

Elsewhere in Finland, local crypto adoption is brewing. Finnish esports visitor Elisa Esports announced a partnership with cryptocurrency house Coinmotion to bolster the Nordic esports scene.

Related: Finnish Customs Puzzled on What to Do With 15M Euro Seized in Bitcoin

However, the list of Supervised Entities operating in the cryptocurrency and digital currency space is still small. Fewer than ten companies are registered, so the contempo notice may be a nod toward future regulation and the evolving regulatory landscape.

Crucially, the FSA cannot advise on Finnish customers visiting foreign websites. Nor does the recent initiative touch on advertising on international websites not explicitly targeted at Finnish citizens.

As a issue, while regulators get to grips with the local market, Finnish crypto advocates can continue to visit international crypto websites.