In the statement of all the property he owns and has the right to use an anti-corruption procedure for all public officials in Ukraine - Sorod listed 185,000 XMR, as well as real estate, cars and stock. As per data from CoinMarketCap, as of press time, the money is worth $24,375,600.
As per public document, he purchased these coins in December 2015, when the price of cryptocurrency fluctuated between $0.30 and $0.50. Therefore, the holdings would likely have cost Solod somewhere approximately $74,000 at that time (based on a price of $0.40). The current price of XMR is about $132, and he may has made a profit of about $24.3 million.
Solod became a member of the city hall after an election this fall. His parents, Yuri Solod and Natalia Korolevska, are members of the national parliament of Ukraine, the Verkhovna Rada.
Ukraine passed its first draft bill on digital assets at its first hearing in early December. During the voting, Yuri Solod and Natalia Korolevska were absent.
After discussion and preliminary approval from legislators on Wednesday, the draft of the "Virtual Assets Bill" will have two hearings before it becomes law.
If this happens, Ukraine will join the still short list of countries that have developed specific regulations to regulate cryptocurrencies. The country was named a global leader in encryption technology adoption by blockchain analysis company Chainalysis in September, when citizens were actively using encryption technology for savings, investment and cross-border trade.