Ukraine is advancing with its initiative to build a national Bitcoin reserve. A draft law supporting the initiative is currently under finalization and will soon be submitted for review.
Draft Legislation on Crypto Reserves Underway
Ukrainian lawmaker Yaroslav Zhelezniak, First Deputy Chairman of the Committee on Finance, Tax and Customs Policy, confirmed the country’s intent to establish a national Bitcoin reserve. He stated in a conversation with Incrypted that the bill’s text is nearing completion and will be submitted shortly. The plan reflects earlier discussions held in February 2025, where Zhelezniak first mentioned the idea of enabling the creation of cryptocurrency reserves at the state level.
The draft law represents a significant step in Ukraine’s strategy to incorporate digital assets into its broader financial planning. According to Zhelezniak, the bill aims to provide a legal framework that supports and governs the reserve’s development. Although specific contents of the draft have not yet been disclosed, the law is expected to lay the groundwork for a more structured use of digital assets by government bodies.
The Crypto Information reports that this development aligns with Ukraine’s broader digital transformation goals, signaling its intent to be a key player in the global crypto economy.
Binance Backs Ukraine’s Crypto Strategy
In a related update, Binance has shown strong support for Ukraine’s initiative. Kirill Khomyakov, who oversees Binance’s operations in Central and Eastern Europe, Central Asia, and Africa, reaffirmed the company’s commitment. Speaking to Incrypted, he emphasized that implementing the reserve would involve extensive legal reforms, suggesting a gradual but focused effort.
Khomyakov stated, “Establishing a reserve of this nature will demand considerable legal reforms… this effort could bring more transparency and structure to Ukraine’s crypto asset regulations.” Binance’s participation can provide further technical and strategic resources to the program, further enhancing Ukraine’s increasing presence within the international digital asset sphere.
According to The Crypto Information, Binance’s involvement is consistent with its global mission to promote the adoption and regulation of cryptocurrencies, especially in emerging markets.
Regulatory Challenges and Delays
Notwithstanding progress relating to the crypto reserve bill, Ukraine’s overall regulatory framework for digital assets has been stalled. In late April, the Verkhovna Rada Committee on Finance, Tax and Customs Policy greenlit a standalone virtual assets draft bill. It later, however, was withdrawn from parliamentary review on the instructions of the President’s Office.
This hiatus was caused, according to Zhelezniak, by the position taken by the National Securities and Stock Market Commission and its head, Ruslan Magomedov. The Commission, however, rejected the claim, saying it does not have the right to suspend legislative procedure. It admitted to having lodged only 80 comments and suggested amendments into the new draft law.
As Ukraine makes its way through the changes, establishing a Bitcoin reserve continues to be a top concern for legislators. The Crypto Information will be closely following updates as the bill progresses through legislative proceedings in the coming months.
