- Ukraine has introduced a draft bill that would allow the central bank to hold Bitcoin and other virtual assets in reserves.
- The proposed law gives the National Bank of Ukraine the authority but not the obligation to invest in digital assets.
- The bill is part of Ukraine’s effort to align its financial system with global trends in digital asset adoption.
Ukraine has introduced a new legislative proposal allowing its central bank to hold Bitcoin and other virtual assets in national reserves. This move signals a potential shift in monetary policy as lawmakers seek to align with global financial innovation. The draft law offers a clear legal basis for integrating crypto assets into the state’s financial strategy without mandating their use.
National Bank of Ukraine May Hold Bitcoin
The bill, submitted on June 10 by lawmakers led by Yaroslav Zheleznyak, seeks to amend the law on the National Bank of Ukraine. If approved, the National Bank would gain the authority to add digital assets to reserves alongside gold and foreign currency. The decision to hold or not to hold such assets remains entirely within the central bank’s control.
This proposal, registered as bill No. 13356, does not compel immediate action from the bank but merely grants the legal capability. Lawmakers intend for the measure to modernize Ukraine’s reserve strategy by expanding the range of permissible financial instruments. Moreover, the bill allows the central bank to decide independently on asset timing, methods, and amounts.
The introduction of this bill reflects a broader trend toward digital asset integration within public finance. By giving the National Bank discretionary power, Ukraine sets the groundwork for future crypto-reserve diversification. It marks a calculated policy shift toward financial tools that could support economic resilience.
Legal Framework Nears Completion
In parallel with the reserve initiative, Ukraine is preparing a full-scale crypto regulation law with support from the National Bank and the IMF. This draft legislation treats virtual assets in a manner similar to securities, establishing a taxation model based on conversion to fiat currency. Gains from digital assets would be taxed only upon exchange, ensuring clarity in compliance requirements.
The bill is expected to be submitted after the New Year, with parliamentary committees finalizing the framework. Danylo Hetmantsev, head of the finance committee, confirmed that the primary components are ready for legislative review. However, discussions on financial oversight and anti-money laundering mechanisms are still ongoing.
Officials anticipate the first reading to occur in the first quarter of 2025, aligning with Ukraine’s broader economic reform agenda. The proposed legislation aims to provide a transparent environment for digital asset activities nationwide. This framework complements the central bank’s potential crypto reserve strategy.
Strategic Bitcoin Reserve Plans Advance
Ukraine is also drafting a separate bill to establish a national Bitcoin reserve as part of its financial modernization efforts. Yaroslav Zheleznyak, deputy chair of the finance committee, confirmed the legislation is nearing completion and will be introduced shortly. If adopted, Ukraine would become the first European nation to hold Bitcoin officially as a state asset.
This policy would integrate Bitcoin into sovereign financial planning and could enhance long-term fiscal stability. Lawmakers believe a state-managed crypto reserve could open new channels for economic development and resilience. The proposed reserve aligns with trends in countries such as El Salvador, Switzerland, and Brazil.
Ukraine’s strategic embrace of digital assets reflects growing international interest in diversified state reserves. With legal structures in place, Ukraine may soon lead regional efforts in institutional crypto adoption.
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Source: https://coincu.com/342647-ukraine-proposes-strategic-bitcoin-reserve/