Customs floats tender for cryptocurrency broker

Finnish Customs has issued a call for tenders from cryptocurrency brokers with the view to find an operator through competitive negotiated procedure, who safely and reliably can carry out the sale of cryptocurrencies forfeited to the State.

Candidates for the competitive dialogue can register until 30 August 2021, said Customs in a press release on Thursday.

Customs has seized bitcoins and other cryptocurrencies in connection with investigations into offences related to narcotics and doping substances. A public call for tenders is currently on the way for realising cryptocurrencies.

“We ask interested operators to participate in the tendering. Our aim is to create a permanent procedure through which we safely and reliably can realise cryptocurrencies forfeited to the State also in the future. The chosen operator must e.g. extensively fulfil the requirements of the legislation on cryptocurrencies,” said Pekka Pylkkänen, Director of Financial Management of Customs.

The tender will be organised through a competitive negotiated procedure where Customs will select no more than five candidates.

For example, the chosen candidates must be cryptocurrency brokers who are registered in their own country’s register for cryptocurrency brokers, have experience in selling large lots of cryptocurrencies as well as be able to demonstrate procedures for preventing money laundering and for checking the buyer’s background.

The aim of the tender competition is to select one to three candidates to handle the realisation of cryptocurrencies seized by Customs. The tender competition is EU-wide.

The dialogue with the chosen candidates as well as the publication of the final call for tenders from the candidates is planned for autumn 2021.