Skip to main content

Finland Looking for Brokers to Sell Seized Bitcoins Worth $80 Million

Finland Looking for Broker to Sell Seized Bitcoins Worth $80 Million

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 authorities from storing cryptocurrencies at exchanges, requiring them to keep the coins offline.
  • Pekka Pylkkanen, Finnish Customs’ director of financial management, explained that the authorities want a permanent solution to “safely and reliably” sell cryptocurrencies forfeited to the state coffers in the future. The customs agency described in a statement:

The main aim of Finnish Customs is to make sure the cryptocurrencies are sold in a secure way, preventing further money laundering and criminal activities.

  • Finnish Customs said that it could sign an agreement with as many as three brokers for the sale of seized BTC, the publication conveyed, adding that the agency anticipates “more cryptocurrency seizures.”

What do you think about Finland looking for brokers to help sell seized bitcoin? Let us know in the comments section below.



from Bitcoin News https://ift.tt/3j2vdkQ
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought
Post a Comment
Read more