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Finland Authorities Expected To Donate Seized Bitcoin To War-Torn Ukraine
Finland’s government is reportedly planning to hand over a “significant part” of 1,981 Bitcoin seized from criminals to Ukraine.
Himanshu S.
12:07 28th Apr, 2022
Policy

The Finnish government has agreed on additional aid to Ukraine in the form of Bitcoin seized in criminal investigations related to doping and drug trafficking, according to a report from local media outlet Helsingin Sanomat.

1,981 Bitcoin, or $78.5 million at current prices, was earlier confiscated by Finland’s customs authorities, with the court ordering to hand it over to the state.

While the exact amount which the Nordic country is planning to send to Ukraine’s relief effort is yet to be decided, government sources said that a political decision to donate a “significant part” of that stash had already been made.

This potential contribution would come on top of additional aid following the February decision to provide €14 million ($14.76 million), including humanitarian aid and development funds.

The Finnish government is still weighing how to precisely donate the funds, with authorities wanting to ensure that the cryptocurrency in question does not end up back in criminal hands.

Finland’s cabinet will discuss the matter with the formal decision to be made by the end of May, per the report.

Source



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