Finland

Finland's engagement with Bitcoin has been primarily through law enforcement activities. Since 2016, Finnish authorities have seized Bitcoin in connection with criminal investigations, particularly those related to narcotics and doping offenses. The Finnish Customs has been responsible for managing these assets, adhering to strict guidelines to ensure secure storage and disposal. In 2018, the government mandated that confiscated Bitcoin be stored offline in cold storage and sold through public auctions to prevent misuse. (coindesk.com)

Recent Developments

• April 2022: The Finnish government announced plans to sell approximately 1,890 Bitcoin, with proceeds intended to support Ukraine amid its conflict with Russia. Finance Minister Annika Saarikko stated that the government would donate "tens of millions" of euros from the sale to aid Ukraine.

• July 2022: Finnish Customs completed the sale of 1,889.1 Bitcoin, raising about €46.5 million. The sale was conducted through two selected cryptocurrency brokers, Coinmotion and Tesseract, ensuring compliance with anti-money laundering regulations.

• July 2022: Following the sale, the Finnish government confirmed that the proceeds would be donated to Ukraine to support humanitarian efforts and reconstruction. (decrypt.co)

• July 2022: After the sale, Finnish Customs retained approximately 90 Bitcoin, awaiting final court rulings.