Ukrainian officials declare holdings of over $26B in Bitcoin. Top-5 public servants by the reported amount of cryptocurrency
In 2020, Ukrainian deputies declared 46,351 bitcoins. As of April 7, 2021, that is UAH 74.2 billion. Among the 791,872 officials who completed a tax return, 652 of them declared some cryptocurrency, as Opendatabot reports.
- In particular, most officials (61.1%) invested in Bitcoin. The second most popular cryptocurrency was Ethereum: 24.2% of public servants chose to invest in it.
11 cryptoassets of Ukrainian officials
- Bitcoin – 397 (61.1%)
- Ethereum – 157 (24.2%)
- Litecoin – 27 (4.2%)
- ADA – 18 (2.8%)
- Stellar – 18 (2.8%)
- Monero – 13 (2.0%)
- MIOTA – 10 (1.5%)
- Bitcoin Cash – 9 (1.4%)
- Bitcoin Gold – 1 (0.2%)
Notably, with every passing year, deputies tend to invest more and more in crypto. While in 2016, there were 25 known holders among Ukrainian officials, in 2020, there were 652 of them.
Most cryptocurrencies are held by officers of city and district councils, the National Police, and the Ministry of Defence.
Who has the most cryptocurrency
Top 5 officials by the reported amount of cryptocurrency:
- Vyacheslav Mishalov, member of the Dnipro city council – 18,000 bitcoins (more than $1bn);
- Petro Lenskiy, the Ministry of Foreign Affairs, – 6,528 bitcoins;
- People’s Deputies Oleksandr and Anatoliy Urbanskiy – 5,328 and 4,256 bitcoins;
- Member of the Odessa Regional Council, Volodymyr Kryvosheya – 3,493 bitcoins.
However, Opendatabot notes that the declared figures might not correspond to reality. Since cryptocurrencies have no legal status in Ukraine, it is impossible to trace their origin. Moreover, officials can use the declared investments in future to justify their illegal income: one can declare any number of bitcoins, without providing evidence of their actual existance.