15-5-2025 – Ukraine’s parliament is contemplating legislation that would establish Bitcoin as a component of its national reserves, though the proposal faces significant hurdles amid the nation’s ongoing conflict with Russia.
The groundbreaking initiative, unveiled at Kyiv’s CRYPTO 2025 conference, follows in the wake of similar moves by other nations, including America’s recent policy shift under President Trump, who authorised the creation of a national Bitcoin reserve funded by assets seized in criminal proceedings.
The timing of Ukraine’s cryptocurrency ambitions has sparked debate amongst financial experts. Binance’s regional director Kyrylo Khomiakov, whilst commending the nation’s forward-thinking approach, cautioned that substantial legal reforms would be necessary before implementation could proceed.
The proposal emerges against a backdrop of broader cryptocurrency regulation in Ukraine, where authorities are crafting legislation to legitimise digital assets by early 2025. The framework, developed in consultation with the IMF and National Bank of Ukraine, includes provisions for taxing certain cryptocurrency transactions at rates up to 23%.
However, not all stakeholders share the government’s optimism. Michael Chobanian, founder of the Ukrainian cryptocurrency exchange Kuna, offered a stark assessment of the country’s economic reality. He highlighted Ukraine’s substantial reliance on European Union funding, with over half its budget comprised of international grants and loans, questioning the feasibility of establishing Bitcoin reserves under such circumstances.
The initiative mirrors growing international interest in cryptocurrency reserves, exemplified by Swedish parliamentarian Rickard Nordin’s recent advocacy for Bitcoin adoption as a hedge against inflation in his own nation.
MP Yaroslav Zhelezniak, speaking to local crypto publication Incrypted, confirmed that the draft legislation is in its final stages, though specific details remain pending official confirmation.
