Ukraine’s government owns $2.6 billion in Bitcoin

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According to the most recent announcements from Ukrainian authorities, they reportedly own a billion dollars in bitcoin.

According to the Opendatabot website, Ukrainian government officials currently own 46,351 bitcoins (BTC), valued at over 75 billion hryvnias ($2.66 billion) as of press time. The campaign for the declaration concluded on March 31, 2021. However, bitcoin isn’t the only cryptocurrency discovered in the collective filings of Ukrainian government employees. Ethereum, litecoin, Cardano, Stellar, IOTA, bitcoin cash, and bitcoin gold are among the other cryptos in which government officials have invested, according to the article.

A Dnipro City Council Deputy owns 18,000 BTC.

According to Opendatabot, the majority of Ukrainian crypto-holding state employees work for city councils, the Ministry of Defense, and the National Police. However, there are crypto holders employed in Ukraine’s prosecutor’s office and village councils. Mishalov Vyacheslav Dmitrovich, a Deputy from the Dnipro City Council, was the official with the most bitcoins at the time of the filings, with 18,000 bitcoins. Mykhailo Fedorov, the Minister of Digital Transformation, lauded the joint filings, saying they demonstrate how the country’s officials are becoming more progressive and forward-thinking investors than we previously believed.

Crypto holdings must be disclosed by public authorities.

The fact that such a study was made public did not go over well with everyone in the country. Sergiy Petukhov, the head of the National Agency for the Prevention of Corruption’s Mandatory Inspections Department, reported that his office performed 250 checks this year, including checks on state employees’ bitcoin holdings. He went on to say that certain officials said their filings were incorrect and that Opendatabot’s findings should be avoided.

“If we find that the information provided about the possession of cryptocurrency is inaccurate – this is the basis for administrative or criminal liability.” Ukrainian officials are required to reveal their assets in an official electronic declarations process designed to reduce corruption in the country.

He warned,

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