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, recent out of faculty. In his compulsory property declaration, he mentioned he owned 185,000 monero, or $24.5 million price of the cryptocurrency.
This was, in reality, the one piece of property the younger lawmaker owned himself. Every thing else in his declaration, together with actual property, automobiles and emblems, belongs to his mother and father.
Solod instructed CoinDesk throughout a current interview that he began watching crypto when he was in school, round 2014. Bitcoin didn’t entice him. Monero (XMR), then again, appeared like a extra viable cryptocurrency on account of its anonymity and fixed demand by the darkish market, Solod mentioned.
He collected monero by means of 2015 on exchanges, he mentioned, utilizing his financial savings and a few cash his mother and father gave him for a enterprise undertaking that by no means occurred. Solod “by no means actually favored college,” he mentioned, so he spent numerous time finding out monetary markets and studying about crypto.
Ukraine, which was rated by Chainalysis because the nation with the highest crypto adoption level on the planet, is now within the technique 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 dangerous: I used to see crypto as an island within the ocean, untouched by a sinful hand. A fully free zone the place everybody can do something. However as a politician, I perceive that this legislation will convey cash into the [country’s] finances,” Solod mentioned.
Monero’s privateness characteristic now not applies to Solod. He should report all his property as a public official, because of a legislation supposed to forestall corruption and unlawful enrichment within the nation’s echelons of energy. Going ahead, the younger politician may liquidate the crypto and reinvest the cash into a brand new enterprise undertaking, he mentioned.
Solod is considering entering into crypto mining (no resolution on what coin to this point) and shopping for some tokens from the freshly launched Efforce undertaking 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 at the moment pursuing an economic system main on the Royal Holloway College in London. He’s finding out remotely because of the coronavirus quarantine, he mentioned, though it’s typically exhausting to make time for each work and faculty.
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 state of affairs with the corruption. The previous strategies to forestall it aren’t working anymore.”