Golden Finance has witnessed significant progress in Ukraine’s cryptocurrency sector. Ukrainian lawmakers have registered a draft bill on cryptocurrency reserves in the parliament, a move that officially allows the state bank to include cryptocurrencies in the country’s national reserves.
Bill No. 13356, submitted to the Verkhovna Rada of Ukraine on June 10th, is essentially a series of amendments to the “Law of the State Bank of Ukraine”, with its core content involving the inclusion of crypto assets in gold and foreign exchange reserves. Ukrainian MP Yaroslav Zhelezniak confirmed the proposal of the bill on his Telegram channel. He particularly pointed out that although the bill authorizes the Central Bank of Ukraine to allocate cryptocurrencies such as Bitcoin as part of the national reserve, it does not force the institution to do so. At the same time, the bill does not set a limit on the amount of crypto assets that the National Bank of Ukraine can allocate. The specific allocation method, time and quantity are all left to the regulatory authorities to decide on their own.
Ukraine has been in a state of active exploration in terms of cryptocurrency policy. Since 2014, the Ukrainian authorities have been attempting to implement crypto regulations, hoping to make Ukraine a competitive jurisdiction in the operation of cryptocurrency-related businesses. Although the early efforts were not very effective, the situation has changed significantly in recent years. Previously, Ukraine has allowed citizens and enterprises to legally use cryptocurrencies for transactions. During the war, cryptocurrency donations raised millions of dollars in humanitarian and defense aid for Ukraine, which made Ukraine deeply realize the important role of cryptocurrencies in fundraising.
The proposal of this crypto asset reserve bill holds multiple significances behind it. From a macroeconomic perspective, after experiencing a long-term geopolitical conflict, Ukraine’s economy is confronted with numerous challenges, and the stability of its traditional monetary system has been impacted. As an emerging asset class, cryptocurrencies have characteristics such as decentralization and global circulation. Incorporating them into the national reserve will help Ukraine diversify its reserve asset structure and enhance the risk-resistance capacity of the national financial system. Globally, some countries have begun to explore the inclusion of cryptocurrencies in their national reserve systems. For instance, in March 2025, the United States took the lead in establishing a strategic Bitcoin reserve, which is backed by digital assets confiscated by law enforcement agencies, demonstrating the government’s recognition of the role of cryptocurrencies in national security and economic independence. Ukraine’s follow-up this time, if the bill is smoothly implemented, is expected to showcase its forward-looking layout in the cryptocurrency field on the international financial stage and enhance the country’s position in the global crypto economic landscape.
For the cryptocurrency market, the proposal of this bill in Ukraine may trigger a series of chain reactions. On the one hand, it will stimulate the market’s expectation of demand for cryptocurrencies. Once the National Bank of Ukraine officially includes cryptocurrencies in its reserves, it will send a positive signal to the market and attract more investors to pay attention to the cryptocurrency field, especially those institutional investors seeking diversified asset allocation. On the other hand, this may also prompt other countries around the world to re-examine the role of cryptocurrencies in their national reserves, encourage more countries to conduct relevant policy research and discussions, and accelerate the legalization and mainstreaming process of cryptocurrencies in the global financial system.
However, the bill also faces some challenges in the subsequent implementation process. At the regulatory level, the anonymity and cross-border liquidity of cryptocurrencies pose challenges to traditional financial regulation such as anti-money laundering and capital control. Ukraine needs to establish a sound regulatory framework to ensure that while including cryptocurrencies in its reserves, it can effectively prevent financial risks. From a technical perspective, the storage and trading of cryptocurrencies rely on complex blockchain technology. How to ensure the security of the country’s reserve cryptocurrency assets and prevent hacker attacks, technical malfunctions and other issues is also a key problem that Ukraine needs to solve.
As the Ukraine crypto Asset Reserve bill enters the parliamentary review stage, all market participants are closely monitoring its subsequent developments. The ultimate direction of this bill will not only have a profound impact on Ukraine’s domestic economy and financial system, but also provide an important reference for the development of the global cryptocurrency market.
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