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.

By Michael Bellusci

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

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

Ukraine's Ministry of Digital Transformation wants crypto exchanges to block Russian users. (Lucy Shires / Getty) — Ukrainian flags at the Presidential Administration Building in Kiev city (Lucy Shires/Getty)

Michael Bellusci

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

Follow @mikeybellusci on Twitter

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.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.