Ukraine is definitely a country struggling with geopolitical and economic challenges, but despite the hard recent years, it considers the introduction of Bitcoin and other cryptocurrencies to its state strategic reserve. The bill No. 13356, registered on June 10, 2025, allows the National Bank of Ukraine to include digital assets in reserves next to traditional currencies and gold. This step can strengthen Ukraine’s position as a leader in digital finances, but also raises questions about risk and stability.
Historical and regulatory background
Ukraine has long been exploring the possibilities of crypto. In 2021, the country legalized digital assets, recognizing them as a form of property, which was a step towards modernization of the financial sector. This movement was partly driven by the need to attract investments and adapt to global trends, especially in the context of prior use of cryptocurrencies to collect funds for humanitarian and military purposes during a conflict with Russia.
In December 2024, Ukrainian legislators, together with cooperation with the National Bank of Ukraine and IMF, announced plans to approve the law regulating cryptocurrencies until early 2025. The goal was to create a comprehensive legal arm, including the introduction of taxes on profit from cryptocurrency transactions (taxation is taken when converting to FIAT currencies) to ensure fiscal control and integration with the prevention protocols of money laundering.
Details of the bill No. 13356
The bill, submitted on June 10, 2025 by the Holos party chaired by Jarosław Żeleźniak, proposes changes in the Act “on the National Bank of Ukraine”. Thanks to this, the National Bank of Ukraine could include cryptocurrencies such as Bitcoin or Ethereum, in strategic reserves, next to gold and other traditional currencies. The key aspect is that the bank will have full freedom in deciding when, as well as in what amount to include digital assets, which gives flexibility in risk management related to the variability of the crypto market. The Act does not require immediate action from the bank, which allows for gradual changes depending on the market situation. I think this is a healthy approach. The decision to potentially include cryptocurrencies in the strategic reserve is driven by several factors.
Economic diversification
The inclusion of cryptocurrencies into reserves would allow Ukraine to reduce dependence on traditional currencies and raw materials, such as gold or silver, in the face of geopolitical uncertainty. This is particularly important for a country that is struggling with sanctions and current conflict with Russia.
Attraction of investments
Ukraine, fighting with difficult economic conditions, may want to present himself as a modern and innovative player on the international arena. The adoption of cryptocurrencies could attract investors interested in blockchain technologies and digital finances, which is in line with reports such as Ukraine Prepares Draft Law is regulating Cryptocurrency from Digital Watch Observatory.
Global trend
In the world, more and more countries are experimenting with cryptocurrencies in reserves. For example, the United States under the leadership of President Trump has created a strategic reserve, El Salvador has long been buying BTC, Pakistan has also recently announced the creation of the Bitcoin national reserve, all this is a precedent on a global scale, as stated in Coincentral – Ukraine is Launch Strategic Bitcoin Reserve UNDRE New Crypto. Law plan. Ukraine may want to keep up with this trend, which emphasizes its ambitions on the international arena.
Financial resistance
In times of armed conflicts and sanctions, cryptocurrencies can be seen as an alternative means of storage of value, independent of traditional financial systems, which is particularly important in the context of Ukraine’s previous experience, such as suspension of electronic cash transfers in 2022.
International context and controversy
Ukraine is not the first country to consider including cryptocurrencies in its reserves. Despite the fact that some countries have already introduced the BTC national reserve, not all countries are convinced of this idea. The chairwoman of the European Central Bank (ECB), Christine Lagarde, expressed skepticism towards cryptocurrencies in reserves, emphasizing their instability, lack of liquidity and the risk associated with illegal actions. Similar fears were expressed by the head of the Swiss National Bank, pointing to high variability and limited trade capabilities, meaning no liquidity. All this emphasizes the controversy around this topic.
Despite these reservations, Ukraine continues its efforts, which may be a testimony to its determination in the modernization of the financial sector. Reports such as Ukraine Strategic Bitcoin Reserve Bill Reportedly in Final Stages on Cointelegraph indicate support from Binance, the largest cryptocurrency exchange, which can significantly speed up the development of this project.
Next steps and perspectives
Registering the bill is just the beginning. Now he will have a legislative process in parliament, which may take several months, with debates, potential corrections and final voting. The legislative process can be accelerated, but success and full realization depend on many factors, including global trends and market reactions.
If the Act is adopted, the National Bank of Ukraine will be able to start implementing the strategy, although this is not obligatory, which gives the bank time to adapt to the situation and examine the market. Support from Binance and other cryptocurrency companies can accelerate development, but this requires significant legislative changes so it will not happen as soon as we would all like.
Summary and meaning
Ukraine faces a chance for a real breakthrough in its economy, considering including Bitcoin and other cryptocurrencies in the Strategic State Reserve. This is a bold step that can strengthen its position as a modern state ready for the future of digital finances. However, this decision requires a cautious approach, taking into account the challenges related to the variability of this market and the need for solid regulations.
If Ukraine manages to successfully implement this plan, it can become a leader in Europe in the integration of cryptocurrencies with traditional financial systems, which may affect other countries considering similar steps. It is definitely worth watching how this idea is evolving, and its success or failure can show how the future of strategic reserves will develop all over the world.
