As BTC Continues to Soar Finland Wants to Cash in on Bitcoins Seized in 2016

As BTC Continues to Soar Finland Wants to Cash in on Bitcoins Seized in 2016


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 prices.

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Meanwhile, the same report quotes an official with Finnish Customs explaining the process that preceded the decision to sell. The official, Pekka Pylkkänen, reveals the other options that were examined by Finnish Customs before the final decision was made. Pylkkänen explains:

On behalf of the Customs Act, we had the option of handing them over to another government agency or some other party and destroying

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