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Finnish customs authorities are looking for brokers to sell 1,981 bitcoins seized in drug cases. The coins are currently worth nearly $ 80 million.
Finland’s customs authority said on Thursday it was looking for brokers to sell 1,981 bitcoins seized in drug seizures, Bloomberg reported, noting that the coins had been confiscated by the state by court order. At the time of writing, the bitcoin stash is worth $ 78.75 million. Most of the coins seized were accumulated in raids before 2018. The Finnish State Treasury set guidelines for the handling of crypto assets that year. It prohibited authorities from storing cryptocurrencies on exchanges, forcing them to keep coins offline. Pekka Pylkkanen, director of financial management at Finnish Customs, explained that authorities want a permanent solution to “safely and reliably” sell cryptocurrencies confiscated from state coffers in the future. The customs agency described in a statement:
The main objective of Finnish Customs is to ensure that cryptocurrencies are sold in a secure manner, thus preventing money laundering and criminal activity.
Finnish Customs said they could sign an agreement with up to three brokers for the sale of seized BTC, the publication said, adding that the agency anticipated “more cryptocurrency seizures.”
What do you think of Finland looking for brokers to help sell the seized bitcoin? Let us know in the comments section below.
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