Ukrainian Government Employees and Cryptocurrency: 2023 Data
In 2023, Ukrainian civil servants submitted 2,861 declarations listing cryptocurrency holdings—a 16% increase from the previous period. Out of a total of 654,159 reports filed in the Unified State Register, roughly one in every 230 declarations now includes crypto assets. Kyiv and the surrounding region lead geographically, accounting for over a quarter of all crypto-related filings. The top five regions also include Dnipropetrovsk, Kharkiv, and Lviv oblasts.
Among state institutions, the most active filers of crypto declarations are employees of:
- The National Police
- Prosecution authorities
- The Armed Forces of Ukraine (AFU)
Military personnel account for 8.4% of all crypto declarations, while the judiciary branch represents 7.8%, and members of city councils filed 6.9% of the reports.
Largest Cryptocurrency Portfolios
Individuals with the biggest declared crypto portfolios include:
- Oleksandr Kizlyar
- Oleh Bondarenko
- Kristina Pavlova
- Hanna Fazykov
The largest Bitcoin (BTC) portfolio was declared by Oleksandr Kizlyar, a deputy of the Khmelnytskyi district council, who holds 100 BTC—currently valued at 278.8 million UAH. In second place for BTC holdings is People's Deputy Oleh Bondarenko with 80 BTC, worth 223 million UAH.
Regarding Ethereum (ETH), the largest portfolio also belongs to Oleksandr Kizlyar—1,000 ETH, approximately 74 million UAH. The second-largest ETH portfolio is held by Kristina Pavlova from the Dnipro city council's department of improvement, who declared 130 ETH. The biggest Tether (USDT) stash belongs to Hanna Fazykov, head of the Zakarpattia Appellate Court, who declared over 1.019 million USDT, equivalent to roughly 46 million UAH.
It is worth noting that according to the National Bank of Ukraine, the only legal tender in the country is the hryvnia, and cryptocurrency is not recognized as legal payment. The situation remains challenging, as noted by President Volodymyr Zelenskyy.
The rise in crypto declarations among public servants may indicate growing interest in digital assets despite their legal status. The geographic distribution of these filings also highlights how technological and financial opportunities tend to concentrate in major urban centers. Amid the economic instability caused by the war, the issues of crypto legalization and regulation could become a focal point in political debates. Furthermore, the need to comply with asset disclosure laws in an unpredictable market may drive changes in how cryptocurrencies are regulated in Ukraine.
As the Ukrainian government continues to navigate the complexities of cryptocurrency regulation, the anticipated finalization of the cryptocurrency law is drawing near. This legislative progress is crucial for establishing a clearer framework for digital assets, which could further influence the growing trend of crypto declarations among officials and military personnel. For more insights on the timeline for these important developments, you can read about the upcoming deadlines for the cryptocurrency law in Ukraine here.