Ukraine Makes Historic Move: Parliament Greenlights Bitcoin as National Reserve Asset
Kyiv shakes up global finance—lawmakers just voted to put Bitcoin on the national balance sheet.
Why this matters
First sovereign nation to treat crypto like gold. No more begging the IMF for loans when you can HODL your way to independence. (Take notes, Argentina.)
How it works
Treasury gets authority to buy, mine, and stake BTC. No more pretending those OTC desk deals didn’t happen. Ministry of Digital Transformation already running nodes.
The kicker
Wall Street analysts scrambling to update ‘emerging markets’ playbooks. JPMorgan still calling it ‘rat poison’—while quietly accumulating through subsidiaries. Classic.
TLDR
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Ukraine may let its central bank hold Bitcoin.
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New bill allows crypto in national reserves.
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Crypto could be used to pay international debts.
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Stablecoins might help with global trade.
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Bitcoin seen as a backup to protect Ukraine’s economy.
Ukraine has advanced legislation to allow its central bank to hold Bitcoin and other digital assets in its reserves legally. Lawmakers submitted Bill 13356 to parliament, proposing updates to Ukraine’s financial laws. The move comes as the country seeks new tools to strengthen its economic resilience amid ongoing war and financial strain.
Central Bank Gains Authority Over Crypto Holdings
The proposed bill grants the National Bank of Ukraine (NBU) the authority to include VIRTUAL assets in its official reserve portfolio. The bill does not require the bank to purchase crypto, hence it allows legal flexibility for future action. The central bank will independently decide if or when to hold such digital assets.
This legislative effort reflects Ukraine’s strategy to modernize its reserve management under wartime constraints. The NBU continues to prioritize financial stability. Therefore, providing legal grounds for crypto reserves may offer new strategic options.
The bill outlines the use of crypto in repaying international creditors and financial institutions. The inclusion of repayment clauses signals a broader vision for crypto’s role in fiscal operations. This reflects a shift in how digital assets could support sovereign liquidity needs.
Digital Assets Positioned as Strategic Reserve Option
Ukraine’s reserve structure is typical for an emerging market, with over 87% in U.S. dollars and less than 7% in gold. The NBU holds $44.5 billion in total reserves, which remain crucial for financing imports and stabilizing the currency. Yet the ongoing war limits the country’s ability to expand reserves through traditional methods.
With rising inflation and a weakening hryvnia, new tools are needed to preserve value in the country’s financial system. Bitcoin, known for its decentralized structure and limited supply, may provide an alternative asset class. Unlike gold, it also reduces storage and transport costs.
Several global advisors, including Binance, have discussed reserve digitalization with Ukrainian officials. These consultations suggest a rising interest in strategic crypto use at the state level. However, adoption will depend on approval by parliament and alignment with international financial obligations.
Stablecoins Also Enter the Discussion
The bill may also encourage the use of stablecoins like USDC and USDT to ease international payment operations. These assets can support cross-border trade and payments for IT services or grain exports. Their integration could improve transaction efficiency without high volatility.
Though Ukraine faces pressure from global lenders, including the IMF, stablecoins might bypass speculative concerns. Unlike Bitcoin, they are pegged to fiat and seen as low-risk in settlement systems. However, significant adoption WOULD still require careful regulatory alignment.
Moreover, Ukraine could tap into existing crypto donations and seized digital assets to fund initial reserves. These assets, though unofficial, offer a foundation for building state-backed holdings. Future transfers to the NBU would need proper oversight and legal frameworks.
