A 19-year-old Ukrainian politician revealed all his property in the anti-corruption process, which is mandatory for all public officials in Ukraine. They revealed that he owns millions of dollars worth of Monero (XMR) .

19-year-old Ukrainian politician reveals his Monero holding company

According to data from Markets.Bitcoin.com, Rostislav Solod, a newly appointed member of the Ukrainian Kramatorsk City Council, announced that he has 185,000 XMR, valued at 24,534,700 US dollars, and the real state, cars and stocks .

The statement was made public on December 2, 2020, in which Solod stated that he became the owner of cryptocurrency wealth in 2015 (at the age of 14), and the transaction price of XMR is approximately US$0.50 per coin. The acquisition at the time was classified as a “property” category.

Solod is the son of Natalia Korolevska and Yuriy Solod. The Ukrainian is a member of the Verkhovna Rada in the National Assembly.

However, in the first hearing of the draft digital asset bill passed in early December, it was also known for being absent in the cryptocurrency community.

Ukraine passed the first draft of a digital asset bill

According to the bill, Ukrainian digital assets are defined as “a set of data in electronic form” that “can be used as independent objects of civil transactions and can also prove property or non-property rights.” However, the law does not treat virtual assets as legal tender.

As early as March 2020, the National Agency for Corruption Prevention (NACP) of Ukraine issued a document detailing how Ukrainian officials report cryptocurrencies in income declarations as part of the country’s new anti-corruption measures.

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According to the new guidelines, cryptocurrencies are classified as “intangible assets”. Although the document is aimed at officials, the declaration must also be submitted by individuals with foreign income (including freelancers).

In terms of encryption adoption, Ukraine ranked first in the 2020 Global Encryption Adoption Index compiled by blockchain data analysis company Chainalysis and released on September 9, 2020, followed by Russia, China, South Africa, Nigeria, Kenya and United States.

What is your opinion on this anti-corruption measure in Ukraine? Let us know in the comments section below.

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