Finland Plans to Donate Seized Bitcoins to Help Ukraine: Report

The bitcoin seized in various criminal investigations and donated could be worth as much as $77 million, according to the report.

AccessTimeIconApr 27, 2022 at 9:36 p.m. UTC
Updated Apr 27, 2022 at 9:45 p.m. UTC

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

Finland is planning to donate bitcoin (BTC) seized from various criminal investigations undertaken by its government to Ukraine, Finnish paper Helsingin Sanomat reported, citing government sources.

  • The amount of bitcoin to be donated has not been determined yet, but the potential amount could be worth as much as 73 million euros ($77 million) at current prices, according to the report.
  • Finland began looking into the use of bitcoins to help Ukraine in early March, the report said. Finland has also considered donating 1,981 bitcoins seized by its customs department directly to Ukraine.
  • Donating cryptocurrency has become a popular and efficient way to donate money to Ukraine’s war effort against Russia.

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Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

CoinDesk - Unknown

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.