Regulatory Alerts2026-05-08
Fuse Loyalty ApS Refused Application for License as Crypto-Asset Service Provider
The Danish Financial Supervisory Authority (Finanstilsynet) has refused Fuse Loyalty ApS's application for a crypto-asset service provider license, requiring the immediate cessation of all operations effective from the decision date. The refusal is based on the company's insufficient physical presence in Denmark, as most management resides abroad and significant activities are outsourced to non-EU entities, preventing effective regulatory oversight and demonstrating a lack of local control and independence. Consequently, Fuse Loyalty must permanently wind down its business due to its failure to establish genuine operations and adequate decision-making authority within Danish jurisdiction.
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