Ukraine Moves to Legalize Bitcoin in National Reserves—Central Bank Drafts Groundbreaking Bill

Ukraine''s central bank could soon join the crypto big leagues. A newly drafted bill aims to let the institution hold Bitcoin as part of its national reserves—a bold play for a country rebuilding its economy.

Why it matters: If passed, this would mark one of the most aggressive state-level endorsements of Bitcoin since El Salvador''s 2021 legal tender move. No more pretending crypto is ''just for criminals'' when it''s sitting in the vault next to gold and forex reserves.

The fine print: Details remain scarce, but the bill signals Ukraine''s willingness to embrace digital assets as it courts Western investors. Because nothing says ''modern financial infrastructure'' like hedging your national treasury with a volatile crypto asset—what could possibly go wrong?

Ukraine’s Central Bank May Soon Hold Crypto — If It Chooses To

The draft law, registered as bill No. 13356, does not require the central bank to invest in crypto. Instead, it gives the NBU the option to do so at its own discretion.

Decisions about whether to allocate reserves into digital assets, such as when, how, or how much, WOULD remain entirely with the bank.

“Under this draft law, we authorize the National Bank of Ukraine to include virtual assets in the country’s reserves,” Zheleznyak said.

“However, decisions regarding the timing, method, and volume of such inclusion are left entirely to the discretion of the central bank.”

JUST IN: Ukraine officially introduces bill to establish a Strategic BTC Reserve. pic.twitter.com/VlxcXnwz9N

The proposal marks a notable shift in Ukraine’s stance toward integrating digital assets into its financial framework. Although the bill does not mandate the use of crypto in reserves, it creates a legal foundation for the NBU to act if it chooses to in the future.

“If [the National Bank] doesn’t want to invest in crypto, it doesn’t have to,” Zheleznyak clarified.

The draft bill reflects broader interest among Ukrainian lawmakers in aligning the country with global trends in financial innovation. Zheleznyak said a state-backed crypto reserve could support macroeconomic stability and help drive the growth of Ukraine’s digital economy.

“Proper management of crypto reserves will help strengthen macroeconomic stability and create new opportunities for the development of the digital economy,” he wrote on Telegram.

In a video discussion with Binance’s regional head for Central and Eastern Europe, Kirill Khomyakov, Zheleznyak highlighted growing international interest in crypto as a reserve asset.

He pointed to countries like the United States, El Salvador, Switzerland, and Brazil as examples of jurisdictions moving toward strategic digital asset holdings.

The bill has been submitted to Ukraine’s parliament, the Verkhovna Rada, and is now awaiting further consideration.

If passed, it would position Ukraine among a small but growing group of nations exploring crypto’s role in sovereign monetary policy.

Ukraine Finalizing Crypto Legalization Bill Amid Plans for Strategic Bitcoin Reserve

Ukraine is preparing to take another major step toward integrating crypto into its national financial framework.

Following the central bank’s move to potentially hold Bitcoin in its reserves, lawmakers are now pushing to legalize cryptocurrency use nationwide by mid-2025.

The draft legislation, expected to be submitted after the New Year, has been developed with input from the National Bank of Ukraine and the International Monetary Fund.

Ukraine plans to legalize crypto by Q1 2025, with profits taxed similarly to securities with IMF and European expert guidance.#ukraine #cryptohttps://t.co/0hJPWs511R

It proposes a regulatory and tax framework that treats crypto assets similarly to securities, profits would be taxed only upon conversion to fiat, with no exemptions granted for digital asset transactions.

Danylo Hetmantsev, head of the parliamentary Committee on Finance, Tax, and Customs Policy, said the bill is nearly ready for its first reading.

While some regulatory details, such as financial monitoring mechanisms, are still under discussion, Hetmantsev stated that the Core of the bill is complete and on track for approval in the first quarter of the year.

Meanwhile, Ukraine’s ambitions extend beyond regulation. Lawmakers are also drafting legislation that would enable the country to establish a strategic national bitcoin reserve.

Yaroslav Zhelezniak, deputy head of the finance committee, confirmed the bill is in its final stages and will soon be introduced.

If passed, Ukraine would become the first European country to officially hold Bitcoin as a state asset, a MOVE that could position the nation as a leader in institutional crypto adoption.