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Ukraine Proposes Law to Hold Bitcoin in National Reserves

Published by
Vignesh S G and Nidhi Kolhapur

Ukraine is taking a bold step toward financial innovation. A new draft bill has been introduced in the Ukrainian Parliament that could allow the National Bank of Ukraine (NBU) to hold Bitcoin and other cryptocurrencies in its national reserves.

Ukrainian Lawmakers Push Pro-Crypto Legislation

On June 10, 2025, Ukrainian lawmakers submitted a draft law titled:

“Draft Law on Amendments to the Law of Ukraine On the National Bank of Ukraine regarding the inclusion of virtual assets in the gold and foreign exchange reserves of Ukraine.

This bill was proposed by several members of the Verkhovna Rada, including Yaroslav Zhelezniak, Oleksiy Zhmerenetskyi, Maksym Buzhanskyi, and others.

Zhelezniak confirmed the development through his official Telegram channel, calling it a step forward in modernizing Ukraine’s financial infrastructure.

What Does the Ukraine Crypto Bill Propose?

The proposed legislation does not mandate the NBU to buy or hold crypto assets. Instead, it gives the central bank the legal option to include digital assets like Bitcoin in its gold and foreign exchange reserves.

“How, when, and how much should be the decision of the regulator itself,” Zhelezniak clarified.

Why This Move Matters for Ukraine

With the ongoing war against Russia, Ukraine’s economy faces severe stress—GDP contraction, infrastructure damage, and dependence on foreign aid. The move to legalize crypto reserves could:

  • Support macroeconomic stability
  • Attract foreign investment
  • Encourage digital innovation
  • Help integrate Ukraine into the global economy

Strategic Crypto Reserves: A Global Trend?

Ukraine is not alone. Countries worldwide are exploring crypto reserves:

  • In March 2025, the United States launched a Strategic Bitcoin Reserve.
  • El Salvador made Bitcoin legal tender in 2021.
  • Switzerland and Hong Kong have introduced crypto-friendly policies.
  • Brazil is reportedly considering its own Bitcoin reserve.

Why Countries in Crisis Turn to Crypto

For countries facing economic instability or conflict, crypto offers:

  • Access to global markets
  • Bypass traditional banking restrictions
  • Hedge against inflation and currency collapse
  • Empower digital economic growth

Ukraine follows the path of others like:

  • Pakistan, which created a Crypto Council in March 2025 and later allocated energy for Bitcoin mining and AI data centers.
  • El Salvador, where economic instability led to historic adoption of Bitcoin.

Final Thoughts

If passed, Ukraine’s crypto bill could be a turning point—marking the country’s deeper alignment with global financial innovation. Allowing the central bank to hold Bitcoin as a reserve asset could not only strengthen the economy but also position Ukraine as a crypto-forward nation in the post-war recovery phase.

FAQs

How might Ukraine’s crypto reserve bill influence its post-war economic recovery?

By allowing crypto reserves, Ukraine could enhance financial stability, attract foreign investment in its digital economy, and integrate more deeply into global financial innovation for recovery.

What are the potential risks of Ukraine holding Bitcoin in its national reserves?

Potential risks include Bitcoin’s price volatility impacting reserve valuation, cybersecurity threats for digital assets, and the need for significant legal and regulatory changes for proper management.

Why do Ukrainian lawmakers see crypto as a tool for macroeconomic stability?

Lawmakers believe crypto can offer access to global markets, bypass traditional banking restrictions, act as a hedge against inflation, and empower digital economic growth, bolstering stability during crises.

Vignesh S G and Nidhi Kolhapur

Vignesh is a young journalist with a decade of experience. A proud alumnus of IIJNM, Bengaluru, he spent six years as a Sub-Editor for a leading business magazine, published from Kerala. His interest in futuristic technologies took him to a US-based software company specialising in Web3, Blockchain and AI. This stint inspired him to view the future of journalism through the lens of next generation technologies. Now, he covers the crypto scene for Coinpedia, uncovering a vibrant new world where technology and journalism converge.

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