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Three Ukrainian lawmakers have declared their bitcoin holdings as part of the countrys new electronics declaration system aimed at preventing corruption. The three hold altogether 11,644 bitcoins, worth approximately $47 million.

Also read:Arrests of Bitcoin Miners in Ukraine Spark Questions About Legality

Three members of the Verkhovna Rada of Ukraine which is the countrys unicameral parliament have declared their bitcoin holdings, according to Ria Novosti. Alexander Urbansky, Dmitry Belotserkovets and Dmitry Golubov are members of the political party Bloc Petro Poroshenko.The trios bitcoin holdings are shown in their electronic declarations, which Parliament members are required to submit.The publication detailed:

According to the declarations, Urbansky has 2,494 bitcoins (about 10 million dollars), Belotserkovets declared 398 bitcoins (1.6 million dollars), Golubov indicated in his declaration 8752 bitcoins (about 35 million dollars).

This e-declarations system, aimed to prevent corruption, mandates government officials and related persons to declare and describe all assets they possess inside and outside of Ukraine; the information is then made available to the public.

The first phase of this system was launched in September last year which affected 100,000 top and mid-level officials, explained the United Nations Development Programme (UNDP). The second phase started in January this year, affecting an additional 700,000-800,000 officials.

Meanwhile, some bitcoin mining farms in Ukraine have reportedly been closed down by the government. Recently, news.Bitcoin.com reported on bitcoin miners beingarrested in Kiev and 200 pieces of mining equipment seized. Around the same time, the Security Service of Ukraine (SBU) reportedly discovered another cryptocurrency mining farm in the town of Kropyvnytskyi in central Ukraine. In both cases, the mining farms were closed down and mining equipment seized.

Artem Afyan, co-founder and managing partner of thelaw firm Juscutum, saidthat over the past few months, we have seen a surge in law enforcement activity in the field of cryptocurrency. However, he asserted that the main motive of the raids is requisition. The mining equipment is seized.

Rostislav Kravets, Senior Partner of the law firm Kravets & Partners, explained that the current legislation does prohibit the issuance and circulation of other payment instruments and monetary units, and the use of monetary surrogates as means of payment, NV Business reported.

However, cryptocurrency is currently not banned, nor is its use prohibited. The central bank of Ukraine is aware of its use within the country. Last week, Deputy Governor of the National Bank of Ukraine Oleg Churiy said that the government is discussing the legal status of bitcoin and its regulation. The issue will be considered by the Financial Stability Board before the end of this month.

What do you think of Ukrainian politicians holding bitcoins while bitcoin mining farms are being closed down? Let us know in the comments section below.

Images courtesy of Shutterstock and Xinhua

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Read more from the original source:
Three Ukrainian Lawmakers Declare Bitcoin Holdings Worth $47 Million - Bitcoin News (press release)

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The Committee to Protect Journalists (CPJ) has condemned the "harassment" of reporters in Ukraine after security services raided the offices of an independent news website and a member of parliament criticized the head of the national press union for his response to the raid.

Ukrainian authorities should "end their harassment" of Strana.ua and "stop fostering a hostile environment toward the press," said CPJ Europe and Central Asia Program Coordinator Nina Ognianova in a statement on August 14.

Strana.ua said security service agents searched its Kyiv premises and the homes of two of its journalists last week as part of an investigation into allegations that the website disclosed confidential government information.

The raid was criticized by the chairman of the National Union of Journalists of Ukraine, Serhiy Tomilenko, who in turn was accused by deputy Dmytro Tymchuk of supporting anti-Ukrainian activities.

CPJ quoted Tomilenko as saying that he has since received threatening messages on social media.

"Politicians are creating a toxic atmosphere for the media by dividing Ukrainian journalists into patriotic and unpatriotic, when they should be encouraging a wide variety of viewpoints to inform the public, Ognianova said.

Original post:
CPJ Denounces 'Hostile' Environment Toward Press In Ukraine - RadioFreeEurope/RadioLiberty

Recent disclosures by members of Ukraine's national legislature revealed that three lawmakers havea combined wealth in bitcoin worth more than $45 million.

According to a report from RIA Novosti, Russia's international news service, the three lawmakers are all members of the "Petro Poroshenko Block", which constitutes the largestgrouping of legislatorswithin the Parliament.

Of the three named by the report, Dmitry Golubov possesses the most bitcoin: 8,752 BTC, an amount worth roughly $36 million at current prices. Alexander Urbansky possesses 2,494 BTC while Dmitry Belotserkovets owns 398 BTC, worth approximately $10 million and $1.6 million, respectively.

The disclosures come as Ukraine inches toward regulating the cryptocurrency.

Asreportedpreviously, theNational Bank of Ukraine the country's central bank revealedlast week thatthe legal implications of cryptocurrencies will be discussed at the next meeting of the Financial Stability Board of Ukraine. That hearing, scheduled for the end of August, will bring together the nation's financial authorities.

It's unclear at this time exactly what steps the government will ultimately take. Local sources reported last week that a large cache of bitcoin mining machines were confiscated after authorities discoveredat a state-owned facility.

And while officials determine how they intend to regulate bitcoin, some agencies have moved to begin testing how blockchain might be applied more broadly to their offices. For example, work has begun on a new land registry powered by blockchain, with a formal trial commencing in October.

ImageCredit:Sharomka/Shutterstock.com

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Read more:
$45 Million: Ukrainian Lawmakers Reveal Big Bitcoin Holdings - CoinDesk

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