Ukraine Plans to Legalize a National Bitcoin Reserve

It holds nearly $5B in Bitcoin from wartime donations.

Ukraine is planning to create a national Bitcoin reserve, which could be used to manage the nearly $5 billion in BTC that it holds.

What Happened: A new bill to legalize a national Bitcoin reserve in Ukraine is being prepared and could be submitted to parliament in the coming weeks, according to Yaroslav Zhelezniak.

The deputy head of the Economic Committee in Ukraine's parliament confirmed that he is finalizing the bill.

This move would formalize plans to create a national crypto reserve that were signaled earlier this year.

The bill would also put in place a legal framework for managing and regulating these assets, which were mainly donated to the government during the ongoing conflict with Russia.

The broader bill on virtual assets faced several setbacks and may be subject to further changes.

Also, major crypto exchange Binance is supportive of Ukraine's move to create a national Bitcoin reserve, according to Kirill Khomyakov, who leads Binance operations in key global regions.

"We are following the situation closely and stand ready to cooperate further with Ukrainian officials as they navigate this new landscape in setting up a national Bitcoin reserve," Khomyakov said.

He acknowledged that the current legal framework might pose challenges, and significant updates would be needed to accommodate this initiative smoothly.

"We believe that this move could pave the way for more comprehensive and explicit rules and regulations regarding digital assets in Ukraine," Khomyakov added.

Why It's Important: The development signals stronger integration of digital assets into state finance in Eastern Europe.

Earlier this year, plans for a national Bitcoin were signaled by Zhelezniak, who stated that the proposals were being prepared.

"We are setting up a national Bitcoin reserve. We already have nearly $5 billion in BTC from donations. It's time to put it in order through legislation," Zhelezniak said in April.

The government is planning to use these assets to increase fiscal resilience and transparency in public crypto funds.

The Economic Committee is coordinating with the National Bank of Ukraine and the Ministry of Finance to ensure that the reserve operates smoothly and aligns with national financial policy.

"We are working on legislation to create a national Bitcoin reserve. We'll coordinate closely with the relevant financial institutions for optimal integration and oversight," Zhelezniak added.

This move could also have implications for broader financial institutions and their involvement in crypto asset management.

Coins Memoized: A breakdown of the world's largest Bitcoin reserves by country as of 2025 is as follows:

China: Holds an estimated $73 billion in Bitcoin reserves, largely accumulated through mining activities and early investments in the cryptocurrency market.

United Kingdom: Holds an estimated $30 billion in Bitcoin reserves, largely inherited from colonial assets and offshore investments.

United States: Holds an estimated $15 billion in Bitcoin reserves, largely derived from venture capital investments and macroeconomic hedging strategies.

Ukraine: Holds an estimated $4.8 billion in Bitcoin reserves, largely donated by individuals and organizations globally during the ongoing conflict with Russia.

These Bitcoin reserves are a small portion of the countries' overall foreign exchange reserves. For instance, China's foreign exchange reserves are estimated at $3.3 trillion, while the U.S. foreign exchange reserves are estimated at $7.1 trillion.

Despite this, Bitcoin makes up a larger portion of the countries' overall cryptocurrency holdings. It is also worth noting that these are rough estimates, and the exact figures may vary.

The ranking of the world's largest Bitcoin reserves by country could change as more countries begin to allocate a portion of their foreign exchange reserves to Bitcoin.

In recent years, there has been growing interest in investing in Bitcoin as a hedge against inflation and currency devaluation. Several countries, such as El Salvador and the Central African Republic, have already made headlines for adopting Bitcoin as legal tender or making large-scale purchases of the cryptocurrency.

However, the plans to create a national Bitcoin in Ukraine highlight a broader shift in thinking about digital assets and their role in the global financial system. As more countries experiment with cryptocurrencies and blockchain technology, the landscape of international finance could be set for a dramatic transformation.