Ukraine may be moving towards adopting Bitcoins as its national reserve currency, which could help it maintain financial stability in the face of ongoing conflict with Russia.
The lawmakers have reportedly been working on Bitcoin.BTCAccording to Yaroslav Zelezniak a parliamentarian who is a proponent of the national reserve, Yaroslav has a bill draft in its final stages. confirmed The plan was sent to a local media outlet in encrypted form.
This proposal was made public during the CRYPTO2025 Conference in Kyiv, on February 6. “We will soon submit a draft law from the industry allowing the creation of crypto reserves,” Zhelezniak said.
Cointelegraph had reached out to Zhelezniak in order to get his opinion on the current status of this bill but hadn’t received any response before publication.
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Bitcoin as an international reserve asset has been gaining attention since the election of Donald Trump, US President in 2024. Trump’s March 7th tweet signed an executive order To establish a Bitcoin reserve in which BTC confiscated as part of criminal investigations is seeded.
The following month, Swedish MP Rickard Nordin wrote an open letter to Finance Minister Elisabeth Svantesson urging her to adopt the new standard. Bitcoin as a national reserve The asset’s growing popularity as a “hedge against inflation,” Cointelegraph has reported that on April 11th.
Related: Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset
The adoption process may be delayed due to legal issues
Ukraine’s desire to establish a Bitcoin national reserve could mark a significant shift in cryptocurrency policy. However, this may be difficult. “significant legal change,” Kyrylo Khomiakov was the Regional Head of CEE Central Asia Africa and Binance at the time.
“We commend Ukraine’s ambition to establish a strategic crypto reserve,” Cointelegraph reported that he said this. “Implementing such a reserve would necessitate significant legal changes, indicating that this process will not be swift.”
“He added” “Another positive aspect is that this initiative will likely lead to greater regulatory clarity in Ukraine, as the government will need to articulate its stance more clearly.”
Ukraine was reportedly According to Daniil Gomantsev of the Verkhovna Rada’s tax committee, the Verkhovna Rada is planning to legalize cryptocurrency in 2025. A draft bill will be finalized in collaboration with the National Bank of Ukraine and the International Monetary Fund.
The 8th of April is a day to remember. Ukraine’s financial regulator Proposed taxing some crypto transactions with up to a 23% rate, except for crypto-tocrypto and stablecoins.
The timing of this proposal is not a topic that all crypto experts in Ukraine are enthusiastic about.
” The country is broke. More than 50% of the budget is in grants and loans from the European Union,” Michael Chobanian is the founder and CEO of Kuna Exchange, a Ukrainian-based exchange. “The population is decreasing at the fastest rate in the world. Men are kidnapped and sent to the army against their will.”
“What kind of BTC reserves are we talking about here? This is done only to divert your attention,” Chobanian claimed.
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Source: cointelegraph.com
