The Ukrainian parliament is currently reviewing a new bill that could allow the inclusion of digital assets—such as Bitcoin—into the country’s official gold and foreign currency reserves. The proposal, led by MP Yaroslav Zheleznyak and his colleagues from the Holos party, could pave the way for the creation of a national strategic Bitcoin reserve. However, key decisions regarding the size, timing, and form of this reserve would remain at the discretion of the National Bank of Ukraine.

Zheleznyak emphasized that the proposed legislation is fully aligned with Ukraine’s international obligations. Bill No. 13356 would formally legalize the holding of cryptocurrencies as part of the national treasury.

🔹 Bitcoin as a National Reserve Asset?

Ukraine has already accumulated a significant amount of BTC—in December 2024, it reportedly held 46,000+ BTC worth around $4.8 billion, primarily obtained through asset seizures, donations, and war-related fundraising campaigns.

The proposal to establish a state crypto reserve has received support from the private sector. Kirill Khomyakov, Binance's regional head for Central and Eastern Europe, called it a “positive step forward” that could lead to clearer crypto regulations. He also noted that such a reserve would require major legislative adjustments.

🔹 Legislative Progress Faces Hurdles

Although Ukraine’s finance and taxation committee approved a separate crypto bill back in April, it was later withdrawn at the request of the President’s Office and the National Securities and Stock Market Commission (NSSMC). While the NSSMC denied asking for the withdrawal, it did submit 80 recommendations and proposed changes, which are currently stalling the bill’s progress.

🔹 European Central Banks Remain Hesitant

While Ukraine explores the future of crypto in its reserves, most European central banks continue to express caution.

🔹 Christine Lagarde, President of the European Central Bank (ECB), has repeatedly dismissed the idea, stating that cryptocurrencies are neither secure nor liquid enough for inclusion.

🔹 The Czech National Bank is considering expanding its reserve portfolio but has not mentioned Bitcoin or any digital assets.

🔹 Poland’s central bank recently ruled out crypto investments altogether, citing extreme risk and volatility.

🔹 The Swiss National Bank (SNB) also rejected calls to hold BTC, despite pressure from crypto advocates like Luzious Meisser, board member of Bitcoin Suisse.

🔹 Hedge Against Instability or Risky Gamble?

Proponents of cryptocurrencies argue that, in times of global economic instability and growing geopolitical tensions, holding BTC makes strategic sense. They point to Trump’s new tariffs and the growing fragmentation of the global economy as reasons for reserve diversification.

If passed, Ukraine could become the first European country to officially recognize crypto as part of its national reserve strategy. The decision now rests with lawmakers and the central bank—with the global crypto industry watching closely.

#ukraine , #CryptoReserve , #DigitalAssets , #BTC , #blockchaineconomy

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