TL;DR Breakdown • Over 46 thousand Bitcoin remains undeclared before the Ukrainian regulators.• The most used crypto assets in Ukraine are Bitcoin, Bitcoin Cash, and Ethereum. Ukraine lacks transparency for declaring transactions in crypto assets by even the government officials and politicians. The government, which has tried to regulate cryptocurrencies, does not comply with its laws where each citizen should declare transfers in crypto. According to local news, several Ukraine officials have not shown where they get their Bitcoin or other cryptos. These actions have brought criticism and mistrust among citizens trying to understand the regulatory environment for cryptocurrencies. A Ukrainian legislator loses significant amount of crypto assets The news recently broke that a Ukrainian legislator, Dmitry Gurin, and his wife lost many crypto assets when thieves stole his car. The legislator kept his cryptos, specifically Bitcoin, in an external Wallet and thieves took the wallet and his luxury car. Gurin indicated that he had around 42 Bitcoin valued in 2020 for $840,000 or about 22.5 million hryvnia, the Ukraine local currency. With this theft, the legislator was exposed by not declaring that he possessed many cryptocurrencies. However, the legislator is not the only one who has failed the country’s regulations because other more outstanding officials such as the SRS director also have many cryptos hidden. At the begi...
