- Ukraine finalizing draft bill to establish Bitcoin as a national reserve asset.
- Binance backs Ukraine’s Bitcoin plan but warns of legal hurdles and timeline delays.
- Proposal focuses solely on Bitcoin, not broader crypto adoption, amid ongoing war.
Ukraine is preparing to establish a national Bitcoin reserve as lawmakers near completion of a draft bill formally introducing Bitcoin into the country’s strategic financial planning. The proposal is currently in its final legislative stages and is expected to be submitted to parliament in the coming weeks. The move marks a step in Ukraine’s cryptocurrency strategy as the country continues to deal with economic uncertainty amid the ongoing war with Russia.
According to Ukrainian lawmaker Yaroslav Zhelezniak, a finalized draft of the Bitcoin reserve bill is almost ready for parliamentary presentation. Zhelezniak, Deputy Chairman of the Committee on Finance, Tax and Customs Policy, confirmed the bill’s status during discussions with local media outlet Incrypted.
The initiative was first introduced publicly during the CRYPTO 2025 conference held in Kyiv on February 6, where Zhelezniak stated that a draft law allowing the creation of crypto reserves would be submitted soon. At the time, the focus was broader and included various digital assets, but the latest developments indicate the proposal will now center specifically on Bitcoin.
Binance Indicates Support for Ukraine’s Proposal
Kirill Khomyakov, Binance’s regional head for Central and Eastern Europe, Central Asia, and Africa, confirmed that the company is prepared to support the proposed Strategic Bitcoin Reserve. However, Khomyakov cautioned that the effort will require comprehensive changes to existing legislation. The current pace of Ukraine’s legislative process may pose challenges to timely implementation.
According to Khomyakov, establishing a state-level Bitcoin reserve is not quick. He indicated that Ukraine must implement foundational legal reforms before proceeding with the reserve. These legislative adjustments are under consideration, but no specific timeline has been confirmed.
Ongoing Conflict Shapes Economic Strategy
The reserve proposal’s timing coincides with Ukraine’s negotiations to secure a ceasefire with Russia. According to reports, progress toward a peace agreement could affect broader market sentiment, including the cryptocurrency sector. However, no direct link has been confirmed between diplomatic efforts and the legislative push for the Bitcoin reserve.
Even though similar actions by other nations have prompted interest in the market, Ukraine’s plan is still in the early stages. The bill’s introduction has not been scheduled so far. Before presenting it to parliament, lawmakers are editing the text to ensure clarity.
The reserve proposal has been suggested at the same time Ukraine is negotiating a ceasefire with Russia. If work on a peace agreement improves, it could influence both the broader market and the cryptocurrency industry. No clear link has been proven between diplomats’ work and the decision to propose a Bitcoin reserve.
The Russian proposal comes as Ukraine is working towards an agreement on a ceasefire with the Russians. Reports say that signs of progress toward a truce between Russia and Ukraine could impact the entire market, even cryptocurrencies. However, no direct link has been confirmed between diplomatic efforts and the legislative push for the Bitcoin reserve.
For it to succeed, the bill needs support from legislators, matching policies, and approved regulations. If Ukraine embraces Bitcoin, it will join only a handful of countries that are doing the same.
