A Ukrainian native politician is dealing with prison expenses for hiding practically $5 million price of crypto belongings from monetary disclosures.
That is the newest case showcasing a major systemic weak spot in Ukraine’s anti-corruption oversight and the way it tracks cryptocurrency declarations.
Authorities are investigating a Poltava Metropolis Council officer suspected of intentionally making false statements on his obligatory monetary disclosures.
Reviews point out that Deputy Oleksandr Kalutskyi didn’t declare cryptocurrency totaling over 200 million hryvnia, or roughly $4.77 million. The hid belongings allegedly belonged to each Kalutskyi and his shut kin.
The failure to declare the cryptocurrency spanned three consecutive years, from 2022 to 2024. Though Kalutskyi later submitted up to date monetary paperwork for 2025 itemizing some digital belongings, investigations by Ukraine’s Safety Service and the Nationwide Police decided that this revised knowledge was additionally unreliable.
If convicted, Kalutskyi faces as much as two years in jail and the potential lack of ability to carry public workplace for as much as three years.
The prison investigation into Kalutskyi highlights a specific vulnerability in Ukraine’s anti-corruption framework.
Final month, Ukraine’s Nationwide Anti-Corruption Company (NAPC) revealed that it doesn’t maintain separate information or statistics for cryptocurrency belongings listed in declarations or false crypto disclosures.
Public officers should checklist digital belongings beneath an “intangible belongings” part. Nonetheless, the NAPC confirmed that its inner techniques aren’t at present designed to particularly account for this info.
The absence of a devoted NAPC crypto-tracking mechanism might make it simpler for public officers to misrepresent digital asset possession. Kalutskyi’s case was reportedly uncovered not by the NAPC’s routine evaluate course of however by cyber specialists from the Safety Service and Nationwide Police investigators.
The necessity to depend on specialised regulation enforcement items to trace down crypto-related corruption means that the NACP’s present strategy to tax evasion has a blind spot relating to digital belongings.
Learn unique story $5 Million Crypto Scandal Exposes Ukraine’s Anti-Corruption Blind Spot by Camila Grigera Naón at beincrypto.com
