Jurisdiction reference
Norway
Regulator: Finanstilsynet. License/registration context: Registration. 44 VASP/entity records are tracked by Plexo Institute in Norway. Official registry source: Finanstilsynet — official regulator. Data last updated: 2026-09-24.
Norway implemented the EU's Markets in Crypto-Assets Regulation (MiCA) through the Crypto Asset Act (Kryptoeiendelsloven) effective July 1, 2025, establishing comprehensive regulatory framework for stablecoins. MiCA divides stablecoins into Electronic Money Tokens (single fiat-currency backed) and Asset-Referenced Tokens (multi-asset, commodity, or crypto-backed). All stablecoin issuers must obtain licenses, maintain full reserve backing, publish whitepapers, undergo regular audits, and comply with market conduct rules. Transition period for existing providers extended to June 30, 2026. Framework emphasizes consumer protection, financial stability, and market integrity.
Regulatory Status
- Jurisdiction code
- NO
- Regime
- Registration
- Regulator
- Finanstilsynet
- Governing law
- AML Act
- Travel Rule
- Enforced
- Tracked entities
- 44
- Recognized stablecoin backing
- fiat-backed, crypto-backed, commodity-backed
- Yield-bearing stablecoins
- Restricted
- Currency
- NOK
Regulatory approach
Finanstilsynet is Norway's primary financial supervisory authority responsible for implementing and enforcing MiCA. Licenses and oversees all crypto-asset service providers, stablecoin issuers, and monitors market compliance. Previously supervised only cryptocurrency exchange and custody services under AML regulations; now has expanded mandate to comprehensively regulate stablecoin issuance and trading. Works in coordination with Ministry of Finance, Norwegian Central Bank (Norges Bank), and EFTA Surveillance Authority (ESA) for enforcement decisions. Conducts regular audits, maintains market surveillance systems, and provides regulatory guidance.
Licensed entities in Norway
Showing 43 of 44 regulated-entity records tracked in Norway by Plexo Institute.
| Entity | Status | License type |
|---|---|---|
| Aera Payment & Identification | Licensed | Payment Institution (PI) |
| AK Jensen Norway | Licensed | MiCAR CASP |
| Balder Solutions | Licensed | Virtual Currency Service Provider |
| Bare Bitcoin | Licensed | MiCAR CASP |
| Bill Kill | Licensed | Payment Institution (PI) |
| Buypass Payment | Licensed | E-Money Institution (EMI) |
| CheckinPay | Licensed | Payment Institution (PI) |
| Circle K Norge | Licensed | Payment Institution (PI) |
| Credicare | Licensed | Payment Institution (PI) |
| Dalmar | Licensed | Payment Institution (PI) |
| Deltager | Licensed | Payment Institution (PI) |
| Dintero | Licensed | Payment Institution (PI) |
| EedenBull | Licensed | E-Money Institution (EMI) |
| Elekt | Licensed | Payment Institution (PI) |
| Espos Norge | Licensed | E-Money Institution (EMI) |
| Evry Card Payments | Licensed | Payment Institution (PI) |
| Firi | Licensed | E-Money Institution (EMI) |
| Forex Norge | Licensed | Payment Institution (PI) |
| Front Payment | Licensed | Payment Institution (PI) |
| Fundingpartner | Licensed | Payment Institution (PI) |
| Horde | Licensed | Payment Institution (PI) |
| Humbul | Licensed | Payment Institution (PI) |
| K33 Markets | Licensed | MiCAR CASP |
| Kredd | Licensed | Payment Institution (PI) |
| Lendo Part of Schibsted | Licensed | Payment Institution (PI) |
| Monio | Licensed | Payment Institution (PI) |
| Neonomics | Licensed | Payment Institution (PI) |
| Norgesgruppen Finans | Licensed | Payment Institution (PI) |
| Norwegian Block Exchange | Licensed | E-Money Institution (EMI) |
| NT Services | Licensed | Payment Institution (PI) |
| OneSettle | Licensed | E-Money Institution (EMI) |
| Payex Norge | Licensed | Payment Institution (PI) |
| Payr | Licensed | Payment Institution (PI) |
| Settle Group | Licensed | E-Money Institution (EMI) |
| Spoortz | Licensed | Payment Institution (PI) |
| Strex Payment | Licensed | E-Money Institution (EMI) |
| Totalkapital | Licensed | Payment Institution (PI) |
| Týr Markets | Licensed | MiCAR CASP |
| VA Finance | Licensed | Payment Institution (PI) |
| Vina Remittance Express | Licensed | Payment Institution (PI) |
| Vipicash | Licensed | Payment Institution (PI) |
| Vipps | Licensed | Payment Institution (PI) |
| ZTL Payment Solution | Licensed | Payment Institution (PI) |
Browse all 44 records in the regulated-entity registry, including the remaining 1 in Norway.
Stablecoin laws in Norway
Primary legal texts Plexo Institute tracks for Norway.
- Law on Crypto Assets / Lov om kryptoeiendeler (Kryptoeiendelsloven): LOV-2025-05-23-30 (enacted 2025-07-01)
This law incorporates EU Regulation (EU) 2023/1114 (Markets in Crypto-Assets Regulation / MiCA) directly into Norwegian law through an incorporation clause in Section 1, making MiCA applicable as Norwegian law. The legislation establishes comprehensive regulation of crypto asset issuance, public offerings, and trading. It creates mandatory authorization requirements for all stablecoin issuers, both Electronic Money Tokens (EMTs, fiat-backed) and Asset-Referenced Tokens (ARTs, crypto/commodity-backed). The law designates Finanstilsynet (Norwegian Financial Supervisory Authority) as the competent authority responsible for licensing, supervision, and enforcement. Administrative penalties range up to 180 million NOK or 15% of annual revenue for serious violations. The law prohibits algorithmic stablecoins lacking explicit asset reserves and requires 100% reserve backing for all permitted stablecoin types, with segregated custody arrangements and independent audits every six months.
Relationship Graph
Jurisdiction FAQ
Who regulates Norway?
The current Plexo Institute record lists Finanstilsynet as the regulator for Norway.
How many VASPs are tracked in Norway?
44 VASP/entity records are tracked by Plexo Institute in Norway.
What is the Travel Rule status in Norway?
The current Plexo Institute record lists the Travel Rule status for Norway as Enforced.
Source Evidence
This profile is compiled from official legislation and regulator records. Source confidence: official source evidence.