The move, spearheaded by Member of Parliament Yaroslav Zhelezniak, aims to anchor Bitcoin within Ukraine’s financial framework as a strategic asset.

Zhelezniak, who also serves as Deputy Chair of the Finance and Tax Committee, is finalizing a legislative draft expected to reach the parliamentary floor within weeks. The proposal reportedly narrows the focus to Bitcoin, departing from earlier plans that broadly targeted digital assets.

Binance has already expressed its intent to support the initiative. Kirill Khomyakov, who heads the crypto exchange’s operations across Central and Eastern Europe, Central Asia, and Africa, confirmed Binance’s backing but cautioned that enacting the measure would require significant legislative overhaul. “This won’t be a fast-track process,” Khomyakov noted, citing the complexities of building a crypto-legal infrastructure during wartime.

The proposed reserve arrives as Ukraine continues its efforts to modernize its digital economy. The country has taken an increasingly open stance on cryptocurrency, embracing blockchain innovation even amid its conflict with Russia.

In February, Zhelezniak hinted at a broader cryptocurrency reserve, but recent geopolitical developments and global interest in state-level Bitcoin strategies — including discussions between El Salvador’s president and Irish figures — appear to have sharpened Ukraine’s focus on Bitcoin alone.

Should the bill succeed, it would mark a symbolic and practical leap forward for Ukraine, positioning the country among a small but growing group of nations exploring Bitcoin as a sovereign asset. The potential for peace negotiations with Russia could further fuel positive sentiment in both traditional and crypto markets, according to analysts.

The post Ukraine Could Make Bitcoin History with Bold New Reserve Plan appeared first on Coindoo.

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Filed under: Bitcoin - @ May 15, 2025 1:04 am