185,000 XMR tokens declared by 19-year-old Ukrainian official

Quick take

1 minute read

• A 19-year-old deputy of the Kramatorsk regional department in the Ukrainian government has been recently appointed and has officially declared his holdings in cryptocurrency. 

• Particularly, this includes a significant amount of the privacy centred Monero asset.

A 19-year-old deputy of the Kramatorsk regional department in the Ukrainian government has been recently appointed and has officially declared his holdings in cryptocurrency. Particularly, this includes a significant amount of the privacy centred Monero asset.

Rostyslav Solod became the owner of such a massive fortune in the token (185,000) in March 2015 when he was just 14 years old according to the publication that was published earlier this month. The declaration also adds that the tokens are classed as a property of Solod.

Fast forward to March this year when the international agency on corruption prevention in Ukraine set out a new ruling for officials when it comes to holding crypto assets such as Monero. Public officials now have to disclose the name of the assets they hold as well as the purchase date and the overall value that they have in a specific coin or token.

It’s incredible to see such a young individual get so heavily involved with the crypto space and particularly Monero of all currencies.

Another advocate for the crypto space in Ukraine, Michael Chobanian has said that these new requirements put in place for government officials in the country are not very well enforced as he has said:

“Right now there is no penalty for not providing the correct information in the declaration and... they can just write anything. And no official government organization has the tools or skills or ability to check how much crypto you have or whether you actually have it.”

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