Ukraine Plans to Create Bitcoin Reserve With Binance, Bill in Progress: Report
By: crypto news|2025/05/15 07:15:04
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Ukraine is reportedly considering creating a national strategic Bitcoin Reserve in partnership with global crypto behemoth Binance.Government officials have confirmed that a related bill is being drafted and is currently in the finalization stage.“We will soon submit a draft law from the industry allowing the creation of crypto reserves,” Yaroslav Zhelezniak, First Deputy Chairman of the Committee on Finance, Tax and Customs Policy, told local media on Wednesday.Ukraine is considering partnering with Binance to create a national strategic Bitcoin reserve. Government officials confirm that a related bill is being drafted and will be submitted soon. Binance expressed support for Ukraine’s vision to establish a strategic crypto reserve....— Wu Blockchain (@WuBlockchain) May 15, 2025The news first surfaced online, gaining much attention from the community, calling it “very bullish.”MP Zhelezniak had previously teased the launch of a national crypto stockpile in February 2025. However, he did not disclose further details at the time.Ukraine has been consistently open to cryptos, embracing digital asset-friendly rules, even during the peak wartime with Russia. The nation attracted over $225 million in crypto donations from supporters worldwide in 2022-2023, per the Crystal Blockchain report.The latest move in creating a strategic Bitcoin Reserve marks growing institutional Bitcoin adoption. If implemented, Ukraine would become the first European country to officially hold Bitcoin as a state asset.Binance to Aid Ukraine in Bitcoin Stockpile CreationBinance has previously partnered with Ukrainian regulators in framing a favourable legal framework for digital assets. Now, the largest crypto exchange is supporting the nation’s ambition to create a strategic crypto reserve, Kirill Khomyakov, Head of Binance in CEE, Central Asia, and Africa, told Incrypted.“The creation of such a reserve will require significant changes in legislation, which indicates that this process will not be quick,” Khomyakov noted. However, he did not mention the specific timeframe for the legislation to be ready.“This initiative will likely lead to greater clarity in the regulation of crypto assets in Ukraine, as the government will need to more clearly articulate its position on this issue.”Further, the reserve would aim to enhance financial stability and act as a hedge against fiat currency volatility, particularly given Ukraine’s ongoing economic challenges post-war. Additionally, the initiative would also boost the nation’s global tech image, attracting more crypto businesses and investors in the future.Binance has been collaborating with governments across the globe to foster crypto adoption. For instance, Binance recently partnered with Kyrgyzstan to launch a nationwide crypto payment infrastructure and establish blockchain education programs. @binance teams up with Kyrgyzstan to roll out crypto payments and blockchain education, paving the way for a digital-first economy and regional innovation.#Crypto #Blockchain #Kyrgyzstanhttps://t.co/GgJMlByNVc— Cryptonews.com (@cryptonews) May 5, 2025Countries Embrace Bitcoin as National Reserve AssetIn March, US President Trump signed an executive order to establish a Strategic Bitcoin Reserve. The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings, said White House crypto and AI czar David Sacks.Besides, Brazil is moving to establish a sovereign Bitcoin reserve, with high crypto adoption rates bolstering its potential.Last month, two Swedish lawmakers urges the government to seriously consider Bitcoin as a part of the nation’s financial strategy. They submitted a letter to the country’s Finance Minister, Elisabeth Svantesson, suggesting that Sweden should begin accumulating Bitcoin through direct policy or a budget-neutral method.The post Ukraine Plans to Create Bitcoin Reserve With Binance, Bill in Progress: Report appeared first on Cryptonews.
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