Blockchain, DLT and Cryptocurrencies

Blockchain technology and distributed ledger technology (DLT) have created new and exciting opportunities for developing new services relating to data transfer and storage. Blockchain technology and DLT enable a secure mechanism for transferring information and ensure that all transferred information remains unaltered.

Blockchain, DLT and cryptocurrencies – such as Bitcoin and Ethereum – are thereby rapidly changing the way businesses traditionally function and how services are built and developed in an ever-increasing manner.

To navigate in this rapidly evolving world, businesses need access to an experienced and comprehensive legal partner who can assist in managing regulatory risks and achieving compliance. As Nordic Law has a very active role in several technology startups, we have acted as a legal advisor in several wide-ranging assignments related to blockchain technology, DLT and cryptocurrencies. Thereby we have grown to be one of the most experienced law firms in Finland regarding blockchain technology, DLT and cryptocurrencies.

Blockchain, DLT and Cryptocurrencies in Business

Many of our clients are working actively with blockchain technology, distributed ledger technology (DLT) and cryptocurrencies which is why Nordic Law has helped its clients in creating and launching numerous new and fascinating business models. Our lawyers are with you from creating the legal cornerstones of the business model all the way to the actual implementation of the service (go-to-market services).

We also assist our clients in the development and implementation of blockchain technology and DLT, particularly in the mapping of legal risks regarding the business.

Our lawyers also provide advisory services regarding the exchange of cryptocurrencies, such as

  • Cryptocurrency wallets
  • Cryptocurrency exchanges
  • Cryptocurrency transactions
  • Tax issues related to crypotcurrencies

Around 2017, ICOs (Initial Coin Offering) became a popular way to attract investments to a company. In an ICO companies focusing on blockchain technologies issue their own pre-mined coins (i.e. tokens) to investors in exchange for investments. The issuing company also defines what the tokens can be used for (for example, the company’s product, service or equity).

STO (Security Token Offering) is in general in line with the financing model of an ICO round. However, in a STO the investors will primarily receive a token representing or giving the right to equity shares in the issuing company and as such a STO is in many ways comparable to an ordinary IPO (Initial Public Offering). Therefore, a company planning a STO must also take into account the relevant financial regulation regarding the securities market and obligations arising from said regulation.

If your company is considering raising investments through an ICO or STO, our lawyers will be happy to assist you in the overall planning of the project, communicating with the relevant authorities, drafting the required white papers and prospectuses, mapping legal risks and in assessing the legitimacy of the actual business.

Policy and Regulatory

As companies focusing on blockchain technology are usually operating in entirely new markets and industries, it can be difficult for them to identify relevant regulation. Most often the situation is that the legislator has not had the time to issue relevant legislation and therefore it is completely missing. This can either lead to the existing bureaucracy being too burdensome creating unnecessary obligations for the company or to a situation where it is extremely important to tread lightly to avoid any future legal risks.

However, it is essential that companies recognize the potential regulatory framework and how regulation may affect the business’s daily activities. In this regard, our lawyers help our clients to identify and comply with relevant regulation so that our clients can be sure that all applicable regulations are duly taken into account. Once the necessary legal mapping has been done, our lawyers are able to assist you with the following activities including but not limited to:

  • Securities Market regulation and legislation as well as Know Your Customer (KYC) -policies
  • Anti-money laundering, sanctions and similar regulations
  • Money transmission, currency conversion and similar money services
  • Internal compliance
  • Financial regulation in business
  • FSA authorization proceedings


We are more than happy to meet with you, discuss your needs and offer you some solid advice.