Ukraine is reportedly approaching the adoption of Bitcoins as a national reserve resource, which can strengthen its financial resistance in connection with the ongoing war with Russia.
Apparently, the legislators are working on the proposal of the Bitcoin National Reserve (BTC), with the project project in the final stages, according to Jaroslav Zhelezniaak, a member of the Parliament of WHO WHO confirmed The plan of local media was rounded.
The proposal was announced during the Crypto 2025 conference in Kiev on February 6. “We will soon submit a bill from the industry, allowing the creation of cryptographic reserves,” said Zhelezniak.
Cointelegraph contacted Zhelezniak in order to comment on the status of the Act, but did not receive a response by the publication.
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Bitcoin has gained international attention as national reserve assets since the election of US President Donald Trump in November 2024. On March 7, Trump signed an executive order in order to establish a national bitcoin reserve from BTC confiscated criminal matters.
A month later, the Swedish MP Rickard Nordin issued an open letter calling the finance minister Elisabeth Svantesson to consider accepting Bitcoin as the national reserve resource, citing the growing recognition for “inflation protection”, reports Cointetetegraph on April 11.
Related: Satoshi Nakamoto turns 50 years aged when Bitcoin becomes an American reserve resource
Legal challenges may delay the party
While Ukraine’s pressure to the National Bitcoin reserve means a potentially historical change in cryptocurrency policy, this may require a “significant legal change”, according to Kyrylo Khomiakova, the regional head of CEE, Central Asia and Africa, in Binance Crypto Exchange.
“We praise the ambitions of Ukraine to establish a strategic cryptographic reserve,” said Cointelegraph. “The implementation of such a reserve would require significant legal changes, which indicates that this process will not be fast.”
He added: “Another positive aspect is that this initiative will probably lead to greater regulatory clarity in Ukraine, because the government will have to express its position more clearly.”
Apparently Ukraine planned to legalize cryptocurrencies at the beginning of 2025 with the finalization of the bill in coordination with the National Bank of Ukraine (NBU) and the International Monetary Fund (IMF), according to Daniil GetMantSev, head of the tax committee Verkhovna Council.
On April 8, the financial body of Ukraine proposed to tax some cryptographic transactions as personal income with a rate of up to 23%, excluding cryptographic transactions and stableleins.
Not all voices in the Ukrainian cryptocurrency industry are optimists as to the date of the proposal.
“The country is rinsed. Over 50% of the budget is subject to subsidies and loans from the European Union,” said Michael Chobanian, founder of Ukraine Kuna Exchange.
“The population decreases at the fastest pace in the world. Men are kidnapped and sent to the army against their will. What BTC reserves are we talking here? It is done only to divert your attention,” said Chobanian.
https://www.youtube.com/watch?v=4maiaoxxtawi
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