Crypto Could Join Ukraine’s Official Reserves — Here’s What the New Bill Proposes
Ukraine may soon have its own crypto reserve. A group of deputies, led by Yaroslav Zhelezniak, First Deputy Chairman of the Finance Committee, has registered a draft law in the Verkhovna Rada to make this possible. Here’s what we know so far.
- According to Zhelezniak, the bill would grant the National Bank of Ukraine (NBU) the authority to include virtual assets in the country’s reserves. Importantly, it would allow — but not require — the state to create such a reserve.
- The draft does not define how much of the international reserves should be held in cryptocurrency, which assets to use, or when and how to convert them. These decisions would be left entirely to the regulator’s discretion. Similarly, the bill does not specify where or how the crypto reserve would be stored. That, too, would be up to the NBU.
- Zhelezniak emphasized that the bill was deliberately written in broad terms to give the central bank maximum flexibility.
- Ukraine continues to rank among global leaders in cryptocurrency adoption and transaction volume. The state has already seized and resold digital assets in various legal proceedings.
«We believe this step will help integrate Ukraine into global financial innovations. If managed properly, crypto reserves could enhance macroeconomic stability and open new opportunities for the digital economy,» said Zhelezniak.
- Previously, the United States announced the creation of a strategic crypto reserve that will include five cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and Ripple (XRP).
- In Ukraine, virtual assets are currently regulated under civil law as digital property. This means individuals can legally own and use them like any other type of personal asset, explains Petro Bilyk, a partner at the law firm Juscutum.
- While Ukraine has not yet passed a dedicated law regulating the virtual asset market, Bilyk notes that this does not prevent the creation of a crypto reserve, especially if the goal is risk diversification.
- For now, the full text of the bill has not been published. This article will be updated as more information becomes available.
Crypto Could Join Ukraine’s Official Reserves — Here’s What the New Bill Proposes
Ukraine may soon have its own crypto reserve. A group of deputies, led by Yaroslav Zhelezniak, First Deputy Chairman of the Finance Committee, has registered a draft law in the Verkhovna Rada to make this possible. Here’s what we know so far.
- According to Zhelezniak, the bill would grant the National Bank of Ukraine (NBU) the authority to include virtual assets in the country’s reserves. Importantly, it would allow — but not require — the state to create such a reserve.
- The draft does not define how much of the international reserves should be held in cryptocurrency, which assets to use, or when and how to convert them. These decisions would be left entirely to the regulator’s discretion. Similarly, the bill does not specify where or how the crypto reserve would be stored. That, too, would be up to the NBU.
- Zhelezniak emphasized that the bill was deliberately written in broad terms to give the central bank maximum flexibility.
- Ukraine continues to rank among global leaders in cryptocurrency adoption and transaction volume. The state has already seized and resold digital assets in various legal proceedings.
«We believe this step will help integrate Ukraine into global financial innovations. If managed properly, crypto reserves could enhance macroeconomic stability and open new opportunities for the digital economy,» said Zhelezniak.
- Previously, the United States announced the creation of a strategic crypto reserve that will include five cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and Ripple (XRP).
- In Ukraine, virtual assets are currently regulated under civil law as digital property. This means individuals can legally own and use them like any other type of personal asset, explains Petro Bilyk, a partner at the law firm Juscutum.
- While Ukraine has not yet passed a dedicated law regulating the virtual asset market, Bilyk notes that this does not prevent the creation of a crypto reserve, especially if the goal is risk diversification.
- For now, the full text of the bill has not been published. This article will be updated as more information becomes available.
