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Finland Donate Seized BTC To Support Ukraine’s War of Freedom

Finland's Customs seized $77M BTC in connection with illegal operations, and started to search solution using the seized cryptocurrency to help Ukraine.
Finland Donate Seized BTC To Support Ukraine’s War of Freedom, Finnish flag as featured image

Finland’s government revealed plans to donate approx $77 million in seized BTC to Ukraine, supporting its war against Russia – the country’s Finance Minister made this announcement late on this Wednesday.

 

Finland is currently supervisor of 1981 BTC worth ~$77 million, seized regarding to illegal operations.

 

The Finnish Customs had planned an auction for the seized BTC, most of which dates back to a haul in ’16, thanks to a drug bust the officials seized 1666 BTC. The value of the Bitcoin was around $739,315 than – at that time the current prices were close to $65 million.

 

The donation will need some time, with the plan yet to be presented to the Finland’s Parliament during the upcoming supplementary budget.

 

Finance minister Annika Saarikko tweeted:

 

 

Donated Amount Still Not Decided

Finnish finance minister Saarikko did not shared the exact amount that would be donated to support Ukraine, but sources shared that the plan was to donate a large portion towards Ukraine’s war effort, estimated to be around $77M. Ukraine has already received donations in various cryptocurrencies worth millions since the beginning of the Russian invasion.

 

The Finniesh authorities won’t be able to donate all of the Bitcoin held by them as some legal proceedings are still in progress.

“Our current intention is to make available to brokers for liquidation the legally enforceable virtual currencies held by Customs, around 1,890 Bitcoin, during the spring or early summer. The money will be remitted to the state as usual, as will all other assets seized by Customs.”

Pekka Pylkkänen, Director of Finances said.

Ken Ololej

Ken Ololej

Ken is a crypto-enthusiast from the beginning, with deep understanding of the cryptocurrency market and blockchain based assets.

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