Finland Sells 1,889 Seized Bitcoins for $47 Million — Proceeds Going to Ukraine
Finland has sold 1,889 bitcoins seized in narcotic cases for 46.5 million euros ($47.4 million). The country’s finance minister previously said that the bitcoin sale proceeds will go to Ukraine for humanitarian aid and reconstruction as its war with Russia continues. Finland Sells Bitcoin Seized From Narcotic Offenses Finnish Customs (aka Tulli), the customs service of the government of Finland, announced Thursday that it has sold “legally forfeited” bitcoins. “During the summer, Finnish Customs has realized its cryptocurrencies that had been legally forfeited....
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The government of Finland is discussing supporting Ukraine with part of the money from the liquidation of millions of dollars worth of cryptocurrency seized in crime investigations. Finnish authorities want to sell the bitcoins soon and say they couldn’t come up with a better idea for the proceeds.
Finland Selects Brokers to Sell $75 Million of Confiscated Crypto
Authorities in Helsinki have recently chosen two brokers to organize the sale of over €71 million ($75 million) worth of bitcoin (BTC) in the coming weeks. The country owns the coins that have been sized....
Finland’s customs authority is looking for brokers to sell 1,981 bitcoins seized in drug cases. The coins are currently worth nearly $80 million. Finland’s customs authority announced Thursday that it is seeking brokers to sell 1,981 bitcoins seized in drug busts, Bloomberg reported, noting that the coins were forfeited to the state by court order. At the time of writing, the bitcoin stash is worth $78.75 million. Most of the seized coins were accumulated in raids before 2018. The Finnish State Treasury set out guidelines for handling crypto assets that year. It prohibited....
Finland’s customs officials have revealed plans to sell 1,981 bitcoins that were seized mainly in connection with drug trafficking-related criminal investigations. The majority of the confiscated bitcoins (1,666) are from the Douppikauppa case, the darknet operator who was arrested in 2016. To Sell or to Destroy the Coins According to a report by one Finnish broadcaster, the confiscated bitcoins had an estimated value of $800,000 at the time of the seizure. However, with bitcoin now trading above $38,000, Finnish Customs may well get over $75 million if the coins are sold at current....
Finland's customs agency plans to sell nearly 2,000 bitcoins agents seized in drug raids.
Vernon Hills, Illinois, a Chicago suburb, will sell $10,000 worth of bitcoins that police seized from criminals, according to The Chicago Tribune. The bitcoins were seized during joint police investigations with federal authorities. Village trustees authorized Nikki Larson, the village finance director, to begin the process of selling the bitcoins. Police did not reveal details of the investigation. Bitcoins Swapped For Dollars. Since the village does not have use for the bitcoins, Larson recommended that the village accept its share of the confiscated bitcoins and convert them into U.S.....