Ukraine May Use Bitcoin for National Reserves: New Crypto Bill
Ukraine has received a draft bill in parliament for the National Bank of Ukraine (NBU), which may give it a chance to hold Bitcoin and other digital assets in its financial reserves.
On June 10, another bill with registration No. 13356 was registered on the Draft Law on Amendments to the Law of Ukraine on the National Bank. If the legislative proposal passes, the NBU would be able—but not required—to add crypto to gold and foreign currency reserves.
Flexibility for the Central Bank
A Ukrainian lawmaker by the name of Yaroslav Zhelezniak, who is one of the sponsors of the bill, said that it is up to the NBU to allocate funds into crypto. He clarified on Telegram that the regulator will decide how, when and how much to invest—if at all.
The bill is flexible enough to allow the central bank full control to take on cryptocurrencies only when and if it sees fit given economic conditions.
Strategic Vision for Digital Finance
Zheleznyak said that the proposal does not mean that they endorse cryptocurrency, but it is meant to prepare Ukraine for the future. He said creating a crypto reserve could help stabilize the economy and boost innovation in the nation’s digital economy.
“It’s all about readiness and not promotion,” he commented. Ukraine should see more government programs to get the country to catch up with the world.
Global Influence and Expert Collaboration
Key figures in the crypto sector lent their support to draft legislation. In a video conversation with Zhelezniak, Kyrylo Khomiakov, Binance’s regional director for Central and Eastern Europe and Central Asia, helped shape the bill and discussed its implications. Binance has advised other countries on building the same reserves, including its work in Pakistan.
Petr Bilyk, head of AI practice at Juscutum Legal Engineering, and a member of Ukraine’s AI development committee, provided legal and strategic input on the draft.
Following Global Trends
Ukraine is not alone in this direction. Bitcoin is used as legal tender in El Salvador, which puts that nation on the map. Also on the radar is Pakistan, which is weighing up crypto reserves, among others. These moves show a widening international trend of bringing digital assets into state-level financial plans.
Balancing Innovation with Responsibility
Even though it allows for more innovation, the bill stresses that decisions about crypto adoption will be left to financial regulators with significant experience. Ukraine is seeking to seize on digitalization amid a geopolitical conflict and attempts to build economic resilience.
If they pass this bill, it can become an important step for Ukraine to become a part of the global digital economy.
