Ukraine is working on legislation to

establish a national strategic Bitcoin

reserve, Ukraine-based media outlet

Incrypted reported on Wednesday.

The Ukraine-based media outlet said it

confirmed the initiative with Yaroslav

Zhelezniak, Member of Parliament and First

Deputy Chairman of the Finance, Tax, and

Customs Policy Committee.

The draft law is currently being finalized

and will be submitted in the near future,

Zhelezniak said. Earlier in February 2025,

he had mentioned preparing "a draft law"

allowing the creation of crypto reserves,

without providing further details.

Per the announcement, Binance is backing

Ukraine's efforts to build the Bitcoin

reserve. While the report mentioned active

cooperation between the global exchange

and Ukraine's authorities, it did not

elaborate on the scope of collaboration.

Binance CEO Richard Teng told the

Financial Times last month that the

company is collaborating with multiple

countries on establishing Bitcoin rese

and crafting crypto regulations.

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