11-6-2025 – Ukrainian legislators have laid the groundwork for a potential cryptocurrency reserve, a move that could position the nation at the vanguard of global economic innovation. On Tuesday, a cadre of eight parliamentarians in the Verkhovna Rada introduced a bill that would empower the National Bank of Ukraine to incorporate virtual assets into its gold and foreign exchange reserves, marking a pivotal moment in the country’s financial evolution.
Spearheading this initiative is Yaroslav Zheleznyak, the influential first deputy chairman of the Rada’s Committee on Finance, Tax and Customs Policy. In a Telegram post, Zheleznyak heralded the proposal as a vital step towards weaving Ukraine into the fabric of global financial advancements. He emphasised that strategic management of crypto reserves could bolster macroeconomic resilience and unlock new avenues for the burgeoning digital economy. Crucially, the bill, if enacted, would grant the central bank the discretion to establish such a reserve without mandating its creation.
Ukraine’s cryptocurrency holdings already command attention on the global stage. Data from BiTBO reveals that the nation possesses 46,351 Bitcoin, valued at over $5 billion—a figure surpassed only by the United States, China, and the United Kingdom. Yet, reports from 2021 suggest these assets are predominantly held by civil servants and officials, rather than residing in state-controlled reserves, highlighting a distinction between personal and governmental ownership.
The concept of national cryptocurrency reserves is gaining traction worldwide, with the United States leading the charge. Pakistan, too, signalled its intent to explore a strategic Bitcoin reserve late last month, reflecting a growing recognition of digital assets’ potential to reshape economic strategies. Ukraine’s proposed legislation aligns with this global trend, offering a framework to harness the transformative power of virtual currencies while maintaining fiscal prudence.
By championing this bill, Ukraine’s lawmakers are not merely responding to the rise of digital finance but actively seeking to shape its future. The proposal underscores a commitment to balancing innovation with stability, potentially redefining the nation’s role in the global financial landscape.
