While some governments are selling bitcoins (BTCs) confiscated as a result of law enforcement action, Finland has not yet decided what to do about BTCs detained.
The Finnish Customs Service, operating within the Ministry of Finance, is reportedly considering what to do about the 1,666 bitcoins intercepted from drug offenders years ago.
According to the Finnish public broadcasting company, the Finnish Customs Service does not want to sell the confiscated bitcoins at auction, as the crypto may be returned to the criminals, according to the Finnish public broadcasting company, February 25.
According to the report, at the time of confiscation, the amount of Bitcoin confiscated was less than 700,000 euros, or about 760,000 dollars. According to data published by the Coin360, according to the press, 1,666 BTC was worth almost 15 million euros, or more than 15.5 million dollars. According to reports, the office initially planned to issue funds for the auction in 2018, but eventually ended up hiding the crypt, citing concerns about money laundering (Anti-Money Laundering - AML).
Regardless of the reason for the Finnish customs' decision to hide the confiscated crypt, the authorities are apparently not alone in the belief that Bitcoin and other crypts may be more dangerous than cash in terms of money laundering. In July 2019, Treasury Secretary Steven Mnuchin expressed an extremely sceptical opinion about Bitcoin, claiming that cash is not laundered in the same way as Bitcoin is.
Meanwhile, other countries in the world do not seem so worried about profiting from Bitcoin. On February 18, the United States Marshals Service sold another batch of Bitcoin confiscated during a law enforcement operation. According to data developed by the well-known cryptographic industry figure Jameson Lopp, the US Marshals missed more than $1.7 billion by selling confiscated Bitcoin too early.
