Finnish customs officials have revealed plans to sell 1,981 bitcoins taken mainly in connection with criminal investigations related to drug trafficking. Most of the bitcoins seized (1,666) came from the Douppikauppa case, the darknet operator arrested in 2016.
To sell or destroy the coins
According to an report by a Finnish broadcaster, the seized bitcoins had an estimated value of $ 800,000 at the time of the seizure. However, with bitcoin now trading above $ 38,000, Finnish customs could get more than $ 75 million if the coins are sold at current prices.
Meanwhile, the same report cites an official at Finnish customs explaining the process leading up to the decision to sell. The official, Pekka Pylkkänen, discloses the other options examined by Finnish customs before the final decision was made. Pylkkänen explains:
On behalf of the Customs Act, we had the option to transfer them to another government agency or party and destroy them. We (however) came to the conclusion that alternatives other than sales are not realistic.
Prior to the last decision to unload the seized goods BTCSimilarly, Finnish customs officials planned to auction the digital assets in 2018. Ultimately, however, this plan was abandoned.
Confiscated Bitcoins to be sold as soon as possible
In the meantime, Pylkkänen, admitting that the “risk of diversion of funds into the criminal market still exists”, explains that the decision to proceed with the sale had to be made because “according to customs legislation (Finnish customs) no other than to sell the assets. “
The official adds that Finnish customs plans to sell the digital assets alone or through an intermediary. He emphasizes that “bitcoins will be sold as soon as possible.”
The report also reveals that when the sale is finally carried out, Finnish customs will “transfer the money from the sale of bitcoin to the Ministry of Finance.”
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