Rostislav Solod, 19, is the youngest lawmaker within the metropolis of Kramatorsk, Ukraine. He’s additionally a crypto millionaire.
Solod is the son of two nationwide parliament members, Yuri Solod and Natalia Korolevska. He entered politics this autumn, contemporary out of faculty. In his compulsory property declaration, he mentioned he owned 185,000 monero, or $24.5 million value of the cryptocurrency.
This was, in actual fact, the one piece of property the younger lawmaker owned himself. Every thing else in his declaration, together with actual property, vehicles and emblems, belongs to his mother and father.
Solod advised CoinDesk throughout a latest interview that he began watching crypto when he was at college, round 2014. Bitcoin didn’t entice him. Monero (XMR), alternatively, appeared like a extra viable cryptocurrency resulting from its anonymity and fixed demand by the darkish market, Solod mentioned.
He accrued monero via 2015 on exchanges, he mentioned, utilizing his financial savings and a few cash his mother and father gave him for a enterprise mission that by no means occurred. Solod “by no means actually favored college,” he mentioned, so he spent a variety of time learning monetary markets and studying about crypto.
Ukraine, which was rated by Chainalysis because the nation with the highest crypto adoption level on this planet, is now within the means of passing its first legislation regulating crypto. Solod admits that, at first, he was not loopy about this.
“For me, as an entrepreneur and a younger man, that is unhealthy: I used to see crypto as an island within the ocean, untouched by a sinful hand. A completely free zone the place everybody can do something. However as a politician, I perceive that this regulation will carry cash into the [country’s] price range,” Solod mentioned.
Monero’s privateness characteristic now not applies to Solod. He should report all his property as a public official, because of a regulation meant to stop corruption and unlawful enrichment within the nation’s echelons of energy. Going ahead, the younger politician would possibly liquidate the crypto and reinvest the cash into a brand new enterprise mission, he mentioned.
Solod is considering moving into crypto mining (no resolution on what coin thus far) and shopping for some tokens from the freshly launched Efforce mission supported by Apple co-founder Steve Wozlniak. However his favourite crypto-related plan is launching his personal token, Solod mentioned.
“Elections and the political profession distracted me from these plans for some time,” he mentioned.
They distract him from his research as effectively. Solod mentioned he’s presently pursuing an financial system main on the Royal Holloway College in London. He’s learning remotely because of the coronavirus quarantine, he mentioned, though it’s generally arduous to make time for each work and college.
Requested why he determined to enter politics, Solod referred to his household, saying that “he was born in it.”
“I used to be to determine why the nation isn’t growing,” Solod mentioned. “I actually need to change the scenario with the corruption. The previous strategies to stop it aren’t working anymore.”