2k Confiscated BTC Created Issue for Finland Authorities

Authorities of Finland had faced bureaucratic problems while trying to handle seized crypto coins
20 February 2018   859

Finland is trying to solve confiscated Bitcoin storing issue. This is reported by Bloomberg.

The crux of the problem is that authorities handling the coins won’t be able to store them on virtual currency exchanges due to bureaucratic problems. They have to store them offline. This is said in the documents, seen by the Bloomberg.

Most of the coins have been confiscated in raids conducted since 2016. There is no info how the coins were stored until now.

The official guidelines states that Finland authorities can’t treat Bitcoin or its crypto competitors like a currency. It’s an asset that, as a rule, can’t be used or accepted as a means of payment or as an investment, according to the Treasury document.

Cryptocurrencies seized by the Finnish state can be converted into euros after a court ruling on their appropriation has become binding. The sales should primarily take place via public auctions rather than commercial exchanges, which can be untrustworthy and opaque, the Treasury said.

Finnish state can convert seized crypto to euros only after a court ruling on their appropriation has become binding. The sales should primarily take place via public auctions rather than commercial exchanges the Treasury said.

Blockstream to Release Satellite API

Using satellite service user can access the Bitcoin network even without the Internet worldwide
17 January 2019   110

Blockstream has introduced an application programming interface (API) for its satellite service, with which users anywhere in the world can access the Bitcoin network even without the Internet. In this case, the commission will be temporarily paid in the Lightning Network test network.

The API will allow application developers to broadcast any data on the Bitcoin network, and ordinary users will get this opportunity through the portal on the company's website.

Blockstream claims that most of the world's population will be able to get a message if they have a satellite dish, several low-cost components and a computer.

The company leased four general purpose satellites. The latest model, TELSTAR 18V, was launched in September 2018.

Blockstream representatives also created a separate discussion thread on Reddit and urged the community to ask questions.

The company launched a beta version of a satellite messaging service on the Bitcoin network in August last year. In December, it became known that Blockstream Satellite users will get access to Lightning payments.