Crypto Moves — Finland sells 1,889 seized bitcoins for $47m, proceeds to go to Ukraine
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Loading... - Laura Timko
- 26 Jul 2022
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Bitcoin, the leading cryptocurrency internationally, traded lower on Sunday, falling by 0.65 percent to $22,750.19, as of 9:00 a.m. Riyadh time
Ethereum, the second most traded cryptocurrency, was priced at $1,602.32 rising by 1.36 percent, according to data from Coindesk.
As Ukraine’s war with Russia continues, Finland has sold 1,889 bitcoins seized in narcotic cases for €46.5 million ($47.4 million). The proceeds will go to Ukraine for humanitarian aid and reconstruction, according to Bitcoin.com
Tulli, the customs service of the government of Finland, announced Thursday that it had sold bitcoins that were “legally forfeited.”
According to the customs service, bitcoins were seized in connection with drug-related investigations.
The coins were sold by two cryptocurrency brokers selected by Customs in late spring.
Approximately 90 bitcoins were still in the hands of Finnish Customs “awaiting a valid forfeiture judgment.”
The company has also seized other cryptocurrencies, according to Tulli. Nevertheless, due to the ongoing investigation, “the currencies or their amounts cannot be disclosed in detail,” Finnish Customs said, adding they are worth “hundreds of thousands of euros at most.” Read More...
