Ukrainian MP Reveals Bitcoin Savings

News and Analysis

In his recent e-declaration Ukrainian member of parliament Alexey Mushak revealed possession of 465 BTC (around $310,000) of savings among other things.

Ukraine’s new anti-corruption rules compel all senior public officials to declare their wealth and assets in a new electronic database.

For now, Mushak is the only Ukrainian MP to reveal cryptocurrency savings in his declaration.

However, taking in to account that Verkhovna Rada, the country’s parliament, had discussed bitcoin legalization earlier, the parliamentary members are at least aware of the cryptocurrency’s existence.

Last year, Privatbank, Ukraine’s biggest private bank, launched a service for bitcoin payments. The first company to integrate this new service was online store Allo.

National Bank of Ukraine recently said it was considering using blockchain technology in their Cashless Economy project.

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