Ukraine plans to create national Bitcoin reserve

By: bitcoin ethereum news|2025/05/15 01:45:04
0
Share
copy
Key Takeaways Ukraine is drafting legislation to establish a national Bitcoin reserve with Binance’s help. The initiative seeks to clarify crypto asset regulation in Ukraine, requiring significant legislative changes. Ukraine is working on legislation to establish a national strategic Bitcoin reserve, Ukraine-based media outlet Incrypted reported on Wednesday. The Ukraine-based media outlet said it confirmed the initiative with Yaroslav Zhelezniak, Member of Parliament and First Deputy Chairman of the Finance, Tax, and Customs Policy Committee. The draft law is currently being finalized and will be submitted in the near future, Zhelezniak said. Earlier in February 2025, he had mentioned preparing “a draft law” allowing the creation of crypto reserves, without providing further details. Per the announcement, Binance is backing Ukraine’s efforts to build the Bitcoin reserve. While the report mentioned active cooperation between the global exchange and Ukraine’s authorities, it did not elaborate on the scope of collaboration. Binance CEO Richard Teng told the Financial Times last month that the company is collaborating with multiple countries on establishing Bitcoin reserves and crafting crypto regulations. Governments and sovereign wealth funds around the world have approached Binance for assistance in setting up their crypto reserves, spurred by the US’s pro-crypto policies, including President Trump’s executive order to set up a US strategic Bitcoin reserve. Binance and its co-founder Changpeng Zhao (CZ) have recently engaged in high-level crypto consultations with both Pakistan and Kyrgyzstan. CZ signed a memorandum of understanding with the National Investment Agency to advise on blockchain technologies and regulatory frameworks. Meanwhile, in Pakistan, CZ was appointed as a Strategic Advisor to the Pakistan Crypto Council, where his focus includes regulation, infrastructure, education, and crypto adoption. While these discussions did not involve the establishment of national crypto reserves at the time of first reporting, CZ revealed in a May 5 post that he had recommended Kyrgyzstan consider holding Bitcoin and Binance Coin in its reserves. Ukraine aims to legalize crypto in Q1 Ukraine is accelerating efforts to establish a comprehensive legal framework for digital assets. Crypto legalization is anticipated in the first quarter of 2025, following the finalization of a draft bill currently being prepared by a specialized working group in coordination with the National Bank of Ukraine and the International Monetary Fund (IMF), said Daniil Getmantsev, head of the Verkhovna Rada’s tax committee, in a December statement. The legislation aims to establish fiscal oversight and integrate anti–money laundering protocols. Profits from crypto transactions will be subject to capital gains tax upon conversion to a fiat currency. According to Incrypted, a previous version of the bill had advanced through parliament but was recently withdrawn, reportedly due to concerns from the President’s Office and regulatory resistance, particularly from the National Securities and Stock Market Commission. Source: https://cryptobriefing.com/ukraine-bitcoin-reserve-initiative/

You may also like

CZ Washington Dialogue: Crypto Entrepreneurs are Accelerating Their Return to the United States

CZ connects with the DC Blockchain Summit: The prison memoir is about to be published, harshly criticizing the inaccuracies of traditional media reports, and pointing out that if the U.S. wants to become the "global crypto capital," it urgently needs to introduce more sufficient market competition t...

Morning Report | Strategy increased its holdings by 1,031 bitcoins last week; Katana Blockchain acquires IDEX; NYSE completes rule change to eliminate trading limits on crypto ETF options

Overview of Important Market Events on March 23

Electric Capital: Tracking 501 types of yield-generating RWA assets, we discovered these patterns

From private credit to GPU leasing, from catastrophe bonds to music royalties, the range of tokenizable assets is much richer than the market perceives. However, the biggest challenge is not technology, but distribution—existing RWAs heavily rely on a few large deployers, and the concentration of ri...

Those who are cut off by AI will not disappear; they will become the creators of the next round of the economy

AI is not eliminating people, but rather the superstition of "stable careers": those who break the shackles of organizations and understand how to rewrite themselves are ushering in the ultimate revenge.

Stablecoins reshaping cross-border payments in Asia? Strategic panorama and investment opportunity analysis

With the popularity of local payment channels, the costs of traditional transfers have been significantly reduced, and the fees are now mainly concentrated in the domestic settlement phase, which is precisely what stablecoins cannot bypass.

Zuckerberg is building an AI agent to help him as CEO

Zuckerberg is reported to be personally developing a "CEO proxy" to accelerate information acquisition and reduce management layers.

Popular coins

Latest Crypto News

Read more