UKRAINE PLANS TO CREATE STRATEGIC BITCOIN RESERVE WITH BINANCE

- Ukraine is preparing to create a national Bitcoin reserve in partnership with Binance, per Incrypted.

Key Details:

- The government is finalizing a bill to create the reserve, with plans to submit it to parliament in the coming weeks.

- This initiative is led by Deputy Chairman Yaroslav Zhelezniak, who emphasized the urgency given the ongoing conflict with Russia and the growing role of crypto in Ukraine’s economy.

- Kirill Khomyakov, Binance’s head for Central and Eastern Europe, Central Asia, and Africa, confirmed the company’s commitment to help Ukraine build the Bitcoin reserve.

- He cautioned that this process requires significant legal reforms, as current laws don’t support managing digital assets as official reserves.

- Despite the challenges, Binance sees long-term potential in the plan and continues to assist Ukraine with education and regulatory frameworks.

- Other nations like Switzerland, Brazil, and the Central African Republic are exploring Bitcoin’s role in national finance.

Images: Europe Travel Commission and Binance X platform