Ukrainian Politician Failed to Explain Origin of Her Cryptos, Watchdog Says

The Ukrainian National Agency for the Prevention of Corruption claimed that it had found ‘inaccurate information’ about the origins of the Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term held by Za Majbutne Party MP, Anna Skorokhod.

According to Slovoidilo, Skorokhod has 44 BTC ($2.89 million), 130 ETH ($620,660), and 135 ETC ($7,758). Although the watchdog said there is no conflict of interests by owning cryptos, they are unsatisfied with the explanations the MP gave them about how she obtained these digital assets. The Ukrainian law requires all politicians to declare their crypto holdings.

The Za Majbutne Party MP argued that she did not have enough ‘technical knowledge’ to make these cryptocurrency purchases. Instead, she relied on her husband (now divorced) to make it possible.

But, the real discrepancy that the National Agency for the Prevention of Corruption claimed to have found is that there are $9,347 non-declared funds. The discrepancy lies between the time of the purchase and the price she allegedly paid for them. “Instead, the declaring entity limited itself to general explanations on the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of ownership of cryptocurrency without providing any documents proving the facts of acquisition and availability of cryptocurrency at the end of the reporting period,” the Ukrainian watchdog noted.

Criminal Proceedings Initiated

Moreover, Skorokhod told the authorities that she did not know where the keys were to access the transactions or documents that could serve as proof. That said, the National Agency for the Prevention of Corruption initiated criminal proceedings, as they have also found additional inconsistencies about her submission declaration’s date and the time when she divorced her ex-husband.

If the Za Majbutne Party MP is found guilty of any wrongdoings committed on the declarations submitted, she could face a fine of up to $1,600.

Last year, Rostislav Solod, a young Ukrainian politician, became a crypto millionaire after he declared $24 million in privacy coin, Monero.