Source: Cointelegraph
Original text: (It has been reported that the Ukrainian Bitcoin (BTC) strategic reserve bill has entered the final review stage)
It has been reported that Ukraine is gradually moving towards the goal of including Bitcoin as a national reserve asset, a move expected to enhance its financial resilience amid the ongoing war with Russia.
Ukrainian MP Yaroslav Zhelezniak confirmed to local media Incrypted that lawmakers are actively developing a proposal for a national Bitcoin reserve, and the associated draft law has entered its final stage.
The proposal was initially announced at the CRYPTO 2025 conference held in Kyiv on February 6. Zhelezniak stated at the time: "We will soon submit a draft law from an industry perspective that allows for the establishment of cryptocurrency reserves."
Cointelegraph reached out to Zhelezniak for an update on the progress of the Ukrainian Bitcoin reserve bill but had not received a response by the time of publication.
Since President Trump was elected in November 2024, Bitcoin has drawn widespread international attention as a national reserve asset. On March 7, Trump signed an executive order establishing a national Bitcoin reserve funded by Bitcoin confiscated from criminal cases.
A month later, Swedish MP Rickard Nordin published an open letter urging Finance Minister Elisabeth Svantesson to consider including Bitcoin as a national reserve asset, as Bitcoin is increasingly seen as "a hedge against inflation," Cointelegraph reported on April 11.
Although Ukraine's push for a national Bitcoin reserve marks a potential historic shift in cryptocurrency policy, Kyrylo Khomiakov, head of Binance in Eastern Europe, Central Asia, and Africa, stated that this may require "significant legal reforms."
"We appreciate Ukraine's ambition to establish a strategic cryptocurrency reserve," he told Cointelegraph. "Implementing such a reserve will require significant legal adjustments, indicating that this process will not be completed in the short term."
"Another positive aspect is that this initiative is likely to encourage a clearer regulatory environment in Ukraine, as the government needs to articulate its position more explicitly," he added.
According to Daniil Getmantsev, head of the tax committee of Ukraine's Verkhovna Rada (parliament), Ukraine plans to legitimize cryptocurrency through a draft law coordinated with the National Bank of Ukraine (NBU) and the International Monetary Fund (IMF) by early 2025.
On April 8, Ukraine's financial regulatory body proposed taxing certain cryptocurrency transactions as personal income, with a tax rate of up to 23%, but excluding transactions between cryptocurrencies and stablecoins.
However, not all voices in Ukraine's crypto industry are optimistic about the timing of the proposal.
"The country is already in financial difficulty. More than 50% of the budget comes from EU grants and loans," said Michael Chobanian, founder of the Ukrainian Kuna exchange. "The population is decreasing at the fastest rate in the world. Men are being forcibly conscripted and sent to the army against their will."
Chobanian claimed, "What kind of Bitcoin reserves are we talking about? This is just to divert public attention,"
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