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Finland Looks for Broker to Sell $78 Million of Seized Bitcoins |  abroad

Finland Looks for Broker to Sell $78 Million of Seized Bitcoins | abroad

The Finnish government is looking for a broker who can sell confiscated bitcoins worth $78 million (65.6 million euros) for regular money. This was stated by customs.

1,981 bitcoins have been transferred to the state by the court. Finnish customs authorities launched a call on Thursday to find a broker to sell cryptocurrency. They want to create a permanent mechanism to sell cryptocurrencies that end up in the vault in a “secure and reliable manner” in the future, according to director Pekka Pylkkanen.

The United States was the first country to auction confiscated bitcoins in 2014, while many other countries also sold cryptocurrencies as asset prices soared.

Finnish Customs expects to conclude a framework agreement with up to three intermediaries, worth €250,000 over two years. It said in a statement that this amount could rise to 2 million euros “if there are more crypto takeovers or if the value of assets changes rapidly.”

Most of the Finnish state-owned bitcoin was confiscated before 2018. That year, the Ministry of Finance put in place guidelines on cryptocurrencies, including that coins should not be stored online.

“Finish Customs primarily wants to ensure that cryptocurrencies are sold in a secure manner, in order to prevent money laundering and criminal activities,” she said.

Read also: These 3 Young Investors Take a Look at Their Portfolio: ‘All in Bitcoin Since February’(+)

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