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Finland Seeks Broker to Sell $78 Million in Bitcoins

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The Finnish government is looking for a broker who can sell confiscated bitcoins worth 78 million dollars for ordinary money. Customs report this.

 

The 1,981 bitcoins were transferred to the state by the court. Finnish Customs authorities launched a call on Thursday to find a broker to sell the crypto coins.

They want to create a permanent mechanism to sell cryptocurrencies “safely and reliably” that end up in the treasury in the future, according to director Pekka Pylkkanen. The United States was the first country to confiscate bitcoins for sale in an auction in 2014, while many other countries have also sold cryptocurrencies as asset prices rise.

Finnish Customs expects to conclude a framework agreement with up to three brokers worth 250,000 euros over two years. That amount could rise to 2 million euros “if there are more seizures of crypto coins or if the value of the assets changes quickly,” the statement said.

Most of the bitcoins owned by the Finnish state were seized before 2018. That year, the Ministry of Finance drew up guidelines regarding cryptocurrencies, including that the coins should not be stored on the internet.

“Finnish Customs first and foremost want to ensure that cryptocurrencies are sold safely to prevent money laundering and criminal activity,” it said.

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