Finland revealed that it was looking to carry out the sale of all the Bitcoin [BTC] that the government had acquired.
Law enforcement across the globe had to elevate their skills as cybercrime started flourishing. Criminals started exploring the crypto market as soon as they figured that the industry was less regulated. However, the government proved to be way ahead of these miscreants as multiple cybercrimes related to cryptocurrencies were taken down by the police. While the crypto market has witnessed a surge in both price as well as popularity, governments across the globe have started to sell the crypto assets acquired during these busts. Finland has become the latest country to take this route.
In a recent blog post, the Finnish Customs elaborated on how the agency was looking for an operator to carry out the sale of cryptocurrencies amassed during busts.
Finland calls for operators to carry out sale of crypto
Interested operators throughout the European Union would be allowed to apply and the last day for doing so was set to 30 August 2021. Out of the list, only three entities would be selected to carry the sale out. Finland’s Tulli revealed that it was seeking a safe and reliable source to sell all the cryptocurrency that has been seized.
Pekka Pylkkänen, Director of Financial Management of the Finnish agency stated,
“We ask interested operators to participate in the tendering. Our aim is to create a permanent procedure through which we safely and reliably can realise cryptocurrencies forfeited to the State also in the future. The chosen operator must e.g. extensively fulfil the requirements of the legislation on cryptocurrencies.”
Previously, the Lithuanian government also executed something similar. The government reportedly put 6.5 million Euros of seized cryptocurrency for sale. Finland would be selling about $78 million worth of Bitcoin during the imminent sale.