Ukraine Is Reportedly Moving Closer to Adopting Bitcoin as a National Reserve Asset

Lawmakers are reportedly working on a Bitcoin (BTC) national reserve proposal, with a draft bill in its final stages

A report claims that Ukraine is planning to adopt Bitcoin (BTC) as a national reserve asset amid its ongoing war with Russia.

According to Yaroslav Zhelezniak, a member of parliament, confirmed the plan to local media outlet Incrypted.

The proposal was announced during the CRYPTO 2025 conference in Kyiv on Feb. 6, and saw lawmakers working on a Bitcoin national reserve proposal with a draft bill in its final stages.

"We will soon submit a draft law from the industry allowing the creation of crypto reserves," Zhelezniak said.

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The move comes after the U.S. began rolling out plans for a national Bitcoin reserve in March 2024.

Following the election of President Donald Trump in November 2024, Bitcoin has been a hot topic of discussion for a national reserve asset. On March 7, Trump signed an executive order to establish a national Bitcoin reserve seeded with BTC confiscated from criminal cases.

A month later, Swedish MP Rickard Nordin issued an open letter to Finance Minister Elisabeth Svantesson on April 11 urging her to consider adopting Bitcoin as a national reserve asset.

In the letter, Nordin highlighted Bitcoin's growing recognition as a “hedge against inflation, macroeconomic instability, and geopolitical risk.”

Related: Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset

Legal challenges may delay adoption

While Ukraine's push for a national Bitcoin reserve marks a potentially historic shift in crypto policy, it may require "significant legal change," according to Kyrylo Khomiakov, regional head of CEE, Central Asia and Africa, at crypto exchange Binance.

"We commend Ukraine's ambition to establish a strategic crypto reserve," Khomiakov told Cointelegraph. "Implementing such a reserve would necessitate significant legal changes, indicating that this process will not be swift."

He added, "Another positive aspect is that this initiative will likely lead to greater regulatory clarity in Ukraine, as the government will need to articulate its stance more clearly."

Ukraine was reportedly planning to legalize cryptocurrencies in early 2025 with the finalization of a draft 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 of the Verkhovna Rada.

On April 8, Ukraine's financial regulator proposed taxing certain crypto transactions as personal income with a rate of up to 23%, excluding crypto-to-crypto transactions and stablecoins.

Not all voices in Ukraine's crypto industry are optimistic about the timing of the proposal.

” The country is broke. More than 50% of the budget is in grants and loans from the European Union,” said Michael Chobanian, the founder of Ukraine-based Kuna exchange. “The population is decreasing at the fastest rate in the world. Men are kidnapped and sent to the army against their will.”

“What kind of BTC reserves are we talking about here? This is done only to divert your attention,” Chobanian claimed.