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649900 Other financial service activities, except insurance and pension funding n.e.c.

Information: This code has a codification rule

This type includes:

  • other financial service activities primarily concerned with distributing funds other than by granting loans:
  • writing of swaps, options and other hedging arrangements
  • activities of viatical settlement companies
  • own account investment and trading activities (e.g. by venture capital companies, investment clubs)
  • acting as a counterparty for the clearing and settlement of transactions

This type also includes:

  • dealing in financial markets on own account
  • trade of receivables on own account
  • security and derivate dealers (operating on own account)
  • activities of financial vehicle corporations other than securitisation
  • securitisation transactions of assets other than loans by issuing financial instruments
  • trade of swaps or options on own account
  • trade of commodity contracts on own account
  • issuing of crypto-assets with a corresponding liability (not by a monetary authority)
  • trading of crypto-assets with a corresponding liability on own account
  • exchange of currency on own account

This type excludes:

  • issuing of crypto-assets without a corresponding liability (not by a monetary authority), see 631000
  • financial leasing, see 649100
  • loan securitisation, see 649200
  • security and commodity contracts dealing on behalf of others (brokerage), see 661200
  • exchange of currency on a fee basis, e.g. bureaux de change, see 661200
  • brokerage of crypto-assets with liabilities that qualify as securities, see 661200
  • mortgage brokerage, see 661900
  • management of investment funds, see 663000
  • trade, leasing and rental of real estate property, see division 68
  • bill collection without debt buying up, see 829100
  • grant giving activities by membership organisations, see 9499

When coding activities related to crypto, it is essential to focus on the nature of the activity rather than the fact that it involves cryptocurrency. NOGA does not have a dedicated code for crypto-related activities; instead, these activities are distributed across various existing codes.

Trading crypto assets with liability, such as when a company holds customer funds or acts as a financial intermediary, is classified under 649900. Trading crypto assets without liability, where the company simply facilitates transactions without financial risk, falls under 829900.

Cryptocurrencies are fungible digital money, while NFTs are unique tokens that verify ownership of digital assets. People buy NFTs for their rarity, famous creators, or investment potential, though they are volatile and not traditional assets. Classify NFT sales under 581900, NFT galleries under 911200, and NFT trading under 661200.

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