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 college. In his compulsory property declaration, he mentioned he owned 185,000 monero, or $24.5 million value of the cryptocurrency.
This was, actually, the one piece of property the younger lawmaker owned himself. Every little thing else in his declaration, together with actual property, automobiles and logos, belongs to his mother and father.
Solod informed CoinDesk throughout a latest interview that he began watching crypto when he was at college, round 2014. Bitcoin didn’t entice him. Monero (XMR), however, appeared like a extra viable cryptocurrency as a consequence of its anonymity and fixed demand by the darkish market, Solod mentioned.
He amassed monero by way of 2015 on exchanges, he mentioned, utilizing his financial savings and a few cash his mother and father gave him for a enterprise venture that by no means occurred. Solod “by no means actually preferred faculty,” he mentioned, so he spent quite a lot of 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 earth, 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 unhealthy: 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 deliver cash into the [country’s] finances,” Solod mentioned.
Monero’s privateness function not applies to Solod. He should report all his property as a public official, due to a legislation supposed 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 venture, he mentioned.
Solod is considering moving into crypto mining (no choice on what coin to this point) and shopping for some tokens from the freshly launched Efforce venture 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 properly. Solod mentioned he’s presently pursuing an financial 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 laborious 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 creating,” Solod mentioned. “I actually wish to change the state of affairs with the corruption. The outdated strategies to stop it aren’t working anymore.”