The government of Finland announced on Tuesday new guidelines, which explains how law enforcement agencies should do with the confiscated cryptocurrency.
The official agencies responsible for the storage of cryptocurrency, now will be allowed to place funds on the stock exchanges. Instead, they have to keep them offline, thus making them unavailable from the Internet, reports Bloomberg
with reference to the official documents of the Ministry of Finance.
The ruling means that agencies will need to use some solution for cold storage of crypto-currencies. The publication also says that the Customs office of Helsinki has not reported how it was stored crypto-currencies before the release of the decision.
The publication claims that according to the customs authorities of Finland now own about 2,000 BTC that were seized from 2016. At today’s exchange rate, these coins are worth about 23 million dollars. In 2016, the Finnish Customs confiscated bitcoins and other assets with a total value of 1 million euros in a RAID on a darknet market Valhalla.
The new manual also States that the government must treat cryptocurrencies as assets and not as currency. Once the court decides that the money will not be returned to the owner, you can sell them for euros. The document recommends that, for security reasons, the token sale was conducted at public auctions, and not on the cryptocurrency exchanges.
Similarly received and the U.S. marshals Service, which a month ago sold
at the auction the next 3800 BTC.