Cryptocurrency has gained popularity among almost all kinds of investors and traders in the market from its inception. The lack of a regulatory framework has attracted more anonymous transactions in this digital asset than any other form of currency and digital asset. Similarly, the popularity of these cryptocurrencies is evident in Ukraine. The country declared the rule to reveal the holdings of such cryptocurrencies and provide the officials with the statement of their investment.
The officials of the government hold a huge amount of currency as per the revealed reports
One of the government officials happens to be a member of the ‘Virovsky Village Council’. The officials have come across various other anonymous investments after the token holders declared their investment. One of the individuals has declared their investment holding to be 500 shares of Tesla and 124 Bitcoins. The reports from many analysts state that the investments by the officials are not verified or proofed, looking at the absence of any regulatory authority.
The high amount of holdings question the parliamentary officials
Since the time people have started to declare their holding, they are finding it hard to put forward proof of the same. The public organization responsible for the declared statement suggested this change where the government officials also needed to reveal their holdings. The revelation by the officials will bring in the required transparency and responsibility in the network of cryptocurrency. Therefore, many more such transactions will come into the picture after the requirement to reveal the investment holdings are made compulsory.