Norwegian law does not currently require payment service providers (PSPs), such as banks, to implement Verification of Payee (VoP) services for payments in either euro or Norwegian kroner (NOK). Under the Norwegian Financial Contracts Act, PSPs can execute payments based solely on the provided unique account identifier. To mitigate risks associated with relying exclusively on these identifiers, the Norwegian banking industry voluntarily established the "Konto- og adresseringsregisteret (KAR)," a centralized database that links virtually all active bank accounts in Norway to their legitimate owners, ensuring improved payment accuracy and security.

In March 2024, the EU adopted an Instant Payments Regulation (IPR) ((EU) 2024/886) that amends the SEPA Regulation (EU No. 260/2012). IPR introduced a new verification of payee (VoP) requirement for euro-denominated credit transfers.

On March 7, 2025, the Norwegian government published Prop. 54 LS (2024–2025), a legislative proposal to incorporate EU’s Digital Operational Resilience Act (DORA) into Norwegian law. This proposal transposes the DORA Directive (EU) 22/2556 and Regulation (EU) 22/2554 into Norwegian law by directly incorporating them into a new act—referred to as the DORA Act—in accordance with Norway’s obligations under the EEA Agreement. 

Additionally, the legislative proposal amends the Anti-Money Laundering Act to implement Regulation (EU) 2023/1113, also known as the Transfer of Funds Regulation (TFR II).  TFR II broadens the scope of existing obligations pertaining to money transfer by also including crypto-asset service providers.

On 7 March 2025, the Norwegian Ministry of Finance introduced Prop. 55 LS (2024–2025), a legislative proposal to incorporate EU’s MiCA Regulation into Norwegian law. This represents a milestone in establishing a comprehensive regulatory framework for cryptocurrency in Norway. Officially titled “Lov om kryptoeiendeler (kryptoeiendelsloven)”, the proposed act seeks to modernize Norway´s crypto market by integrating EU’s MiCA Regulation into Norwegian law.

New ESMA guidelines (dated 26 February 2025) shed light on the evolving regulatory landscape for crypto-asset service providers (CASPs) operating outside the EU. These guidelines focus on the reverse solicitation exemption under article 61 of MiCA and underscore the challenges faced by third-country firms (firms located outside the EU) when providing crypto-asset services to EU customers without a proper license.