A small town called Elizavetovka of the Petrykivsky district in the Dnipropetrovsk region of Ukraine has all its residents using popular cryptocurrencies like Bitcoin (BTC), Cardano (ADA), and Ethereum (ETH) for purchasing various products like meat, eggs, milk, lard, etc. Reports indicate that the head of the village council took initiative to ensure that all the residents of the village are owners of cryptocurrency. Incidentally, Ukraine is yet to adopt any legal framework for cryptocurrency trading.
Golosnoy Succeeds In Adjusting Cryptocurrency In Budget
The decision to allow the villagers to use cryptocurrency was taken at a recent village council meeting. During the meeting, the local deputies of Elizavetovka gave the chairman of the council, Maxim Golosnoy the authority to carry out cryptocurrency operations in the interest of the village’s community without putting an additional budgetary burden on the council. Golosnoy who supported the opposition in their healthcare reform implemented by the Governor Vilkul is known for his fight for justice and rights of common people.
Media reports say that Golosnoy has already figured how to stock up the local budget using cryptocurrency and this is just an experiment to help the community earn money. With this development, the village has now become the first Ukranian region where all the residents are the owners of digital currency.
Golosnoy Personally Handling Cryptocurrency Of All Villagers
Golosnoy stated that in April this year he invested around 13,000 hryvnias (US$494) in Cardano which rose to around $1,480 and that is when he decided to repay himself the initial investment and distribute the rest among the 1,500 residents of the village. That is why now every villager is an owner of at least few crypto units.
Since the villagers even now do not understand much about the very principle of cryptocurrency these units are being handled by Golosnoy although the villagers have the right to easily cash the coins in whenever they want. According to the village council chairman, out of the surplus of 3 to 4 million hryvnias that the council gains every year, supervisory authorities and community should allow at least some of the revenues to be invested in cryptocurrency.
