Ukrainian politicians mentioned Bitcoin in e-declaration

Ukrainian politicians mentioned Bitcoin in e-declarationThe member of the Ukrainian parliament from Petro Poroshenko Bloc Alexei Mushak became the first Ukrainian who stated among other assets 465 Bitcoins (UAH 8 million, $325,000). The electronic wealth and asset declaration form was filled by Mushak in compliance with the European nation’s new anti-corruption rules.

Later another Ukrainian deputy, Dmitry Holubov, also declared savings in cryptocurrency. As he stated in the e-declaration he owns 4376 Bitcoin (UAH 75.969), which were acquired in November 2012.

The European countries have a mixed reaction towards Bitcoin. Ukraine is among one of the few nations to have a supportive cryptocurrency ecosystem so far.

Alexei Mushak’s declaration of his cryptocurrency savings along with fiat and other immovable assets shows the increasing awareness and openness about digital currency among the country’s ruling class. His declaration follows the recent parliamentary discussion about the legalization of Bitcoin and other digital currencies in the country.

In addition to cryptocurrency, Ukraine is also seeing a huge movement toward the use of Bitcoin’s underlying distributed ledger technology. The county’s central bank — National Bank of Ukraine is currently working on the development of blockchain applications for its Cashless Economy project. Owing to the popularity of the cryptocurrency technology, few notable startups with innovative ideas have cropped up in the region as well.

Currently, the largest private bank in the country — Privatbank allows users to make Bitcoin payments on its Allo service. Ukraine is also playing host to various cryptocurrency, blockchain, and cyber security conferences. Last month, the Bitcoin Conference that attracted cryptocurrency and payments companies from across the world was organized in Kiev. The country’s Ministry of Finance is also reported to have started exploring the use of blockchain technology to reduce corruption, especially when it comes to government transactions.
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