Ukraine Makes Crypto History: Binance-Backed Bitcoin Reserve Launches—First in Europe
Move over, Swiss banks—Kyiv just outmaneuvered traditional finance with a blockchain-powered vault. Ukraine’s Ministry of Digital Transformation confirms Europe’s first state-backed Bitcoin reserve, fueled by a partnership with Binance. The move signals a defiant bet on crypto sovereignty amid global regulatory chaos.
Why it matters: While Wall Street hedgies debate ETF approvals, Eastern Europe is building the damn infrastructure. The reserve will reportedly hold both BTC and fiat, acting as a liquidity backstop during economic shocks—or as critics note, another volatile asset for politicians to mismanage.
The punchline? This is the same country that crowdfunded its military via crypto donations in 2022. Now they’re institutionalizing digital asset strategy while EU bureaucrats still argue over MiCA implementation timelines. Game recognizes game.
Ukraine is all set to make history by creating Europe’s first Strategic Bitcoin Reserve — a step backed by Binance. The country is currently pushing to legalize cryptocurrency and expand its financial system.
As reported by Incrypted, officials have confirmed the plans to introduce the bill soon. However, the proposal is not yet finalised. Earlier this year, top finance official Yaroslav Zhelezniak talked about draft laws to create crypto reserves, but no details were shared.
Kirill Khomyakov, Binance’s head for CEE, Central Asia, and Africa, said that Binance fully supports Ukraine’s plan. Although it will need big changes and won’t happen overnight, he added that it is still a big step forward that will clear up crypto rules in Ukraine.
Ukraine Pushes for Crypto Framework
Ukraine is pushing to legalize crypto by 2025 with a draft bill in the works that will include capital gains taxes on crypto-to-fiat conversions and stricter anti-money laundering rules.
A previous bill faced delays in the President’s office due to some concerns, particularly from the National Securities and Stock Market Commission. However, the Commission denied blocking the bill, and instead proposed 80 amendments.
Binance is working with several countries on introducing Bitcoin reserves and crafting crypto regulations, and has recently held high-level talks with Pakistan and Kyrgyzstan. It has also worked with Ukraine on crypto education and exchange regulations. Even during war, Ukraine embraced crypto and raised millions through donations to help with humanitarian and defense aid.
Ukraine Eyes Europe’s First Strategic Bitcoin Reserve
Ukraine is not the first to explore this idea. El Salvador was the first to create a bitcoin Reserve with 6,000+ BTC. In 2025, the US also launched its Strategic Bitcoin Reserve, and Brazil is researching digital reserves. Japan, the UAE, and Singapore could all create Bitcoin Reserves as part of their financial strategies in the future, given their active involvement.
