Ukraine Moves Towards Establishing the First Strategic Bitcoin Reserve in Europe
Ukraine is preparing to make history by establishing the first strategic Bitcoin reserve in Europe, supported by Binance. The country is currently pushing for the legalization of cryptocurrency and expanding its financial system. According to Incrypted, officials have confirmed plans to soon introduce a bill. However, the proposal has not been finalized.
This year, Yaroslav Zhelezniak, a senior finance official, discussed draft laws to create cryptocurrency reserves but has not shared details. Kirill Khomyakov, head of Binance in CEE, Central Asia, and Africa, stated that Binance fully supports Ukraine's plans, although these significant changes will not happen immediately.
Ukraine Accelerates Cryptocurrency Legal Framework
Ukraine is striving to legalize cryptocurrency by 2025 with a bill that includes capital gains tax from converting cryptocurrency to fiat and tighter anti-money laundering regulations. A previous bill faced delays due to concerns from the President's office, particularly from the National Securities and Stock Market Commission. However, the Commission dismissed the blocking of the bill and instead proposed 80 amendments.
Binance is also working with several countries on introducing Bitcoin reserves and building cryptocurrency regulations, with recent high-level discussions with Pakistan and Kyrgyzstan. Even during wartime, Ukraine continues to accept cryptocurrency and has raised millions of USD for humanitarian and defense support.
Bitcoin Reserves: Global Trend
The idea of Bitcoin reserves is not new. El Salvador pioneered the creation of a Bitcoin Reserve with over 6,000 BTC. By 2025, the United States will also launch its own Strategic Bitcoin Reserve, and Brazil is researching electronic reserves. Japan, the UAE, and Singapore may create Bitcoin reserves as part of their future financial strategy, thanks to their active participation.
Source: https://tintucbitcoin.com/ukraine-dung-quy-bitcoin-dau-tien-cung-binance/
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