Local council member in Ukraine declares 124 BTC and 500 Tesla shares – Bitcoin News

[ad_1]

A government official in Ukraine’s Rivne region owns nearly $ 8 million in cryptocurrency and 500 Tesla shares, according to his statement. The news comes as another Ukrainian lawmaker in Kiev struggled to prove possession of the crypto holdings on his declaration of assets.

Ukrainian officials declare crypto assets, fail to provide proof of ownership

Crypto investments have grown in popularity among Ukrainian politicians in recent years, mandatory asset declarations have revealed. According to recent media reports, a member of the Virovsky village council in western Rivne oblast said he had 124 BTC worth almost $ 8 million at today’s prices.

Vladimir Pachesny acquired the coins in early 2013 for 73,920 hryvnia at the time of purchase, or just over $ 2,800, using the latest exchange rate of the inflated Ukrainian fiat currency. In 2019, the 36-year-old local MP also bought 500 shares of U.S. electric vehicle company Tesla, which sent crypto prices higher this year with his bitcoin acceptance and possession announcements.

Pachesny is neither the first nor the richest cryptocurrency investor among Ukrainian officials, who has established himself as a leader in crypto adoption. An April report found that government employees and politicians held 46,351 BTC worth 75 billion hryvnia at the time (over $ 2.6 billion), with a city council member from Dnipro, Mishalov Dmitrovich, having the largest reserve of 18,000 BTC.

In their 2020 statements, public figures admitted to holding a total of 46,351 BTC and various other digital currencies, including ETH, LTC, BCH and XMR, according to figures compiled by the Opendatabot platform which monitors public registers in Ukraine. However, not all of them were able to provide the necessary documents to prove that they are checking the parts. This spring, the National Corruption Prevention Agency (NAPC) promised to verify the numbers.

Another Ukrainian MP cannot account for cryptocurrency held

Ukrainian media reported in September that a parliamentarian from President Zelensky’s Servant of the People party failed to prove his digital possessions. Data filed by lawmakers revealed that his wife, Maria Saltykova, had 42 BTC last year, but the NAPC said it had not submitted any documents confirming the accuracy of this information. The MP only explained that the crypto was stored in a hardware wallet which went missing when his car was stolen earlier this year.

Gurin is not an isolated case in Ukraine. A recent article from the “Slovo i Dilo” portal showed that another member of the Verkhovna Rada, Anna Skorokhod, failed to provide NAPC with proof that she actually owned the cryptocurrencies that she had previously reported to the institution.

In her latest statement, Skorokhod said she had 44 BTC, 130 ETH and 135 ETC while her then husband Alexey Alyakin kept some 118, 78 and 350 ETC. The Ukrainian deputy gave “general explanations regarding the obtaining and ownership of the cryptocurrency without providing documents certifying the facts of the acquisition and the availability of the cryptocurrency at the end of the reference period”.

The value of cryptocurrencies was estimated to be over 2.7 million hryvnia (over $ 106,000) at the time of purchase. Skorokhod told NAPC that due to her insufficient knowledge of digital currency, all operations with the coins were carried out by her husband on her behalf. She added that she did not have access to the keys or accompanying documents after their divorce.

Virtual Assets of Ukraine, a public organization, and the Blockchain4Ukraine association, bringing together lawmakers from different political factions in the Ukrainian parliament, have proposed to introduce a requirement that would increase transparency regarding asset declarations by public officials. Both entities insist that public officials provide the addresses of their cryptocurrency wallets on their statements.

Do you think Ukrainian politicians will be able to account for all their cryptocurrency holdings? Share your thoughts on the subject in the comments section below.

Tags in this story asset declarations, asset declaration, BCH, Bitcoin, BTC, Corruption, Crypto, Cryptocurrencies, Cryptocurrency, declaration, declarations, MP, ETH, Ethereum, holdings, legislator, Member, NAPC, Officials, Property, parliament, politicians, public figures, public officials, Rada, actions, actions, Tesla, Ukraine, Ukrainians, Verkhovna Rada, village council

Image credits: Shutterstock, Pixabay, Wiki Commons

[ad_2]