Newly Appointed Ukrainian Politician Declares Owning Over $24 Million in Monero

Newly Appointed Ukrainian Politician Declares Owning Over $24 Million in Monero

A 19-year outdated Ukrainian politician disclosed all of the property he owns throughout an anti-corruption process, necessary for all public officers in Ukraine, who revealed that he holds tens of millions of {dollars} value of monero (XMR).

19-Year-Old Ukrainian Politician Discloses Its Monero Holdings

Rostislav Solod, a newly appointed member of the town council in Kramatorsk, Ukraine, declared that he owns 185,000 XMR, which is value $24,534,700, in keeping with knowledge from, plus actual state, vehicles, and inventory.

The declaration was made public on December 2, 2020, the place Solod acknowledged that he turned the crypto fortune proprietor again in 2015 when he was 14 years outdated, and XMR was buying and selling at $0.50 per coin roughly. The acquisition was labeled within the class of “property” within the doc at the moment.

Solod is the son of Natalia Korolevska and Yuriy Solod, well-known Ukrainian politicians who’re members of the nationwide parliament, the Verkhovna Rada.

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However, within the crypto neighborhood, they’re additionally recognized for being absent in the course of the first listening to of the draft invoice on digital belongings handed in early December.

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Ukraine Passed Its First Draft Bill on Digital Assets

According to the invoice, digital belongings in Ukraine are outlined as “a set of knowledge in digital kind” that “might be an impartial object of civil transactions, in addition to certify property or non-property rights.” However, the legislation doesn’t take into account digital belongings as authorized tender.

Back in March 2020, the Ukrainian National Agency on Corruption Prevention (NACP) issued a doc detailing how cryptocurrencies have to be reported on revenue declarations by Ukrainian officers as a part of the nationwide anti-corruption new measures.

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Under the brand new pointers, cryptos are categorized underneath the “intangible asset” part. Although the doc targets officers, the declaration should even be submitted by people with overseas incomes, together with freelancers.

In phrases of crypto adoption, Ukraine tops the 2020 Global Crypto Adoption Index compiled by blockchain knowledge analytics agency Chainalysis and printed on September 9, 2020, adopted by Russia, China, South Africa, Nigeria, Kenya, and the U.S.

What are your ideas on this anti-corruption measure in Ukraine? Let us know within the feedback part beneath.

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