Public officials digital asset declaration, 19-year-old city councilor in Ukraine: owns $26 million worth of Monero (XMR)

According to the investigation by data company Chainalysis, they have rated Ukraine as the country with the highest adoption of cryptocurrencies globally, and the country is currently drafting a virtual assets bill. In Ukraine, there is a city called Kramatorsk with a population of only 160,000 people. A local city councilor, Rostislav Solod, born into a political family, is only 19 years old this year and is a millionaire in Monero (XMR).

Public Officials Holding Cryptocurrencies

Rostislav Solod's parents are both members of parliament. He started paying attention to cryptocurrencies in 2014, but Bitcoin did not particularly attract him. Instead, it was the privacy of Monero and its demand in the black market that piqued his interest. He began buying Monero in 2015 and studying cryptocurrencies.

From his public asset declaration, in addition to traditional assets such as real estate and vehicles, he also disclosed his ownership of Monero (XMR) in intangible assets, with a purchase of 185,000 Monero coins at a cost of $57,817.36, with an average price of $0.31/XMR. Currently, Monero is priced at $145.48, with a value of approximately $26 million.

Conflicts between Utopia and Politicians

Rostislav Solod stated that as an entrepreneur and young person, he used to think of cryptocurrencies as an island in the ocean where anyone could do anything freely. However, after entering politics, he realized that Ukraine is currently drafting a virtual asset bill that will bring these financial flows under regulation.

Therefore, due to the necessity of asset declaration, Solod also had to disclose his virtual assets. Currently, he is considering selling this asset and transferring the funds into commercial investment projects. Additionally, he also plans to launch his own cryptocurrency.

However, Rostislav Solod mentioned that due to his involvement in politics, he has neglected his plans regarding cryptocurrencies. He hopes to better understand why his country's development has stagnated and attempts to change the current situation of corruption.