Ukraine Proposes Bill to Let Central Bank manage Crypto Reserves

Is Ukraine trying to become a “crypto reserve country”?

A Draft Bill is introduced in Ukraine by Ukrainian lawmakers, which would allow the National Bank of Ukraine (NBU) to include cryptocurrencies like Bitcoin in the official crypto Reserves. However, the bank would not be required to buy cryptocurrencies. It would have full control over whether, when, and how much crypto to add.

The draft legislation, presented on Tuesday to Ukraine's parliament (Verkhovna Rada), would make changes to the current law regulating the NBU. Should the bill pass, it would allow—but not obligate—the NBU to include within its traditional reserves such as gold and foreign currency.

Moreover, Lawmaker Yaroslav Zhelezniak made it clear: Ukraine isn’t pushing cryptocurrency reserve adoption—it’s just making sure it doesn’t fall behind as other countries move ahead with digital finance.

Source : Verkhovna Rada

Yaroslav Zhelezniak, a member of parliament, confirmed the bill’s submission and stated the central bank would have full authority to make the decision. He added that allowing cryptocurrencies in the reserves could help strengthen the country's economy and support the growth of its digital economy.

 "I think the National Bank will win this fight. They communicate better with the IMF, but we wish all participants good luck."

Economy Can Boost As Supporters Believe:

Supporters of the draft believe that adding cryptocurrencies to national reserves could strengthen the country's economy and encourage the development of its digital sector.

“Using this, the economy should be more stable and create new digital opportunities.”- Yaroslav Zhelezniak tweeted 

Experts Helped Draft the Bill on Creating a Crypto Reserve :

Zhelezniak discussed the potential state crypto reserve in a video commentary with Binance’s regional head for Central and Eastern European countries and Central Asia. The proposed law was created with help from experts in the field. Kyryl Khomiakov, who leads Binance’s operations in Central and Eastern Europe and Central Asia, helped with the bill. 

He has been involved in advising other governments on related initiatives. Legal specialist Petr Bilyk, a member of Ukraine’s artificial intelligence committee, also played a role in drafting.

Not Promoting, Just Keeping Up With Trends

In a video, Zhelezniak explained that the bill does not mean the government is pushing for the use. Instead, it’s about staying updated with global financial trends.

He said, “This idea deserves attention. Many countries, like El Salvador and the United States, are moving in this direction.”

Source: YouTube

Using Crypto Reserves as a Step Toward Economic Stability During Conflict :

This comes as Ukraine looks for new financial tools during a time of economic uncertainty caused by the ongoing conflict with Russia.

If the draft becomes law, it would be an important step in linking Ukraine to the Crypto Reserves and the Global Digital Economy.