Finland sold 1889.1 Bitcoin (BTC) from a confiscated hiding place and earned about $ 48 million, Bloomberg News report July 21st.
Report clearly Bitcoin sold was connected to digital assets seized by authorities to facilitate the trade in drugs and doping substances.
Bloomberg reported that the confiscated Bitcoin units dated back to 2018 and were confiscated by a court ruling in the country.
Finnish customs Agreement Two locally-based crypto companies, Coinmotion and Tesseract, that act as Bitcoin sales brokers. According to Customs, these companies have mechanisms to prevent money laundering and appropriate KYC policies.
At the peak of the crypto market, confiscated Bitcoin is reported to be worth $ 130 million.
Meanwhile, authorities still have 90 BTC and an undisclosed amount of other cryptocurrencies awaiting a confiscation court ruling.
Donation to Ukraine
In April, Finnish Government Finance Minister Annika Saariko suggested that the proceeds of the seized Bitcoin would now be donated to support the Ukrainian cause. Hold Over 46,000 units of Bitcoin.
Hallitus lah joittaa @SuomenTulli takavarikoimien bitcoinien myynnintuloutuksenansiostakymmeniämiljoonia Ukrainian auttamiseen. Historiallinen, yhteistyössäteh typäätös @VMuutiset& @Ulkoministerio.Ratkaisuoikeudentuntoinenjahyvä. Kohdennus lisätalousar viossalä hiviikkoina.
— Annika Saarikko (@AnnikaSaarikko) April 27, 2022
The Finnish government did not comment on whether to continue the plan.
In May, Finland announced crypto asset regulations. Mandatory A person who provides cryptographic services in the country to register with the Finnish Financial Supervisory Authority.
Other countries having Bitcoin seizures
Finland is not the only country to confiscate Bitcoin and other digital assets from law violators.
The United States was reportedly the first government to sell Bitcoin confiscated in 2014 at auction. Since then, the United States has made numerous seizures, including the seizure of 96,000 BTC on February 8.
The German government seized $ 23 million worth of Bitcoin after closing Russia Darknet Marketplace For illegal drugs at the beginning of the year.
Britain too Seized Approximately $ 300 million in assets in January 2022.
