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The Finnish authorities have to decide the fate of 2,000 confiscated bitcoins, taking into account new guidelines of the national Treasury.

The Finnish government developed general rules for authorities, according to which it is not allowed for governmental bodies to store virtual currencies on crypto-exchanges or other online services. Now, the authorities need to move the cryptocurrency into a cold storage that operates in an offline mode.

The new guidelines also clarify that the Finnish authorities should treat bitcoin or other altcoins as an asset, not a currency. Thus, it can not be used or accepted as a means of payment or as an investment.

According to the Finnish Treasury, seized bitcoins will be converted into euros after a court ruling via public auctions. Authorities will not use commercial cryptocurrency exchanges due to their opaque and untrustworthy activities, the Treasury added.

Finnish authorities confiscated 2,000 bitcoins valued at $22.8 million, within dozens of raids conducted in 2016.