<br><div> <p>Authorities in Finland are trying to plot a technique to retailer 2,000 <a href="https://cointelegraph.com/tags/bitcoin" target="_blank">bitcoins</a> confiscated in 2016, following new suggestions from the Treasury revealed Tuesday, Feb. 20, Bloomberg <a href="https://www.bloomberg.com/news/articles/2018-02-20/2-000-confiscated-bitcoins-create-a-storage-puzzle-in-finland" target="_blank">reported</a>.</p><p>According to Bloomberg, citing the Treasury suggestions, the authorities are prohibited from storing the Bitcoin stash, worth <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank">roughly $22.8 mln</a> at current, on digital foreign exchange exchanges or suppliers, in its place requiring that they be saved offline, in a <a href="https://cointelegraph.com/tags/cold-storage" target="_blank">cold storage</a>. Finnish authorities have declined to the touch upon how they’ve been storing the seized Bitcoin up to date.</p><p>Previously current statutes on seized foreign exchange are insufficient to take care of the problem. Citing a Treasury doc, Bloomberg states the Finnish authorities prohibits authorities on this case from considering Bitcoin or each different crypto asset as foreign exchange. Rather it is an asset that “...as a rule, can’t be used or accepted as a means of payment or as an investment”.</p><p>Following a binding courtroom ruling on the confiscation of the 2,000 bitcoins, the seized property will seemingly be remodeled to euros by the Finnish state at public auctions, as a result of the Treasury considers industrial exchanges to be “untrustworthy and opaque”.</p><p>This shouldn't be going to be the first case whereby cryptocurrencies seized in jail investigations are auctioned off by the state. During the bust of a customs-dodging crime syndicate in Bulgaria, <a href="https://cointelegraph.com/news/bulgaria-seizes-enough-bitcoin-to-pay-off-15-of-national-debt" target="_blank">authorities seized 213,519 Bitcoins</a>, roughly $2.5 bln at current, which the federal authorities plans to utilize to settle part of the nationwide debt.  </p><p>On Jan. 22, the US Marshal’s Office <a href="https://www.usmarshals.gov/news/chron/2018/011118a.pdf" target="_blank">auctioned off</a> three,813 Bitcoins seized in jail investigations, just a few of which, Cointelegraph <a href="https://cointelegraph.com/news/us-prosecutors-rush-to-sell-bitcoin-confiscated-in-drug-bust" target="_blank">reported</a>, had been seized by the arrest of a excellent drug vendor throughout the state of Utah. At the time, the Marshal’s sum amounted to an nearly <a href="https://www.forbes.com/sites/rogeraitken/2018/01/12/u-s-marshals-to-hold-bitcoin-auction-for-50-million-worth-of-cryptocurrency/#71bde5156127" target="_blank">$50 mln</a> price on industrial exchanges.</p><p><em>Aaron Wood</em></p>  </div>

<br><a href="https://cointelegraph.com/news/finland-authorities-unsure-how-to-store-2000-seized-bitcoins-after-treasury-guidelines">Link </a>

https://giphy.com/gifs/steemit-3oxQNsHUCRwQzR7WKY