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Ukraine is exploring a bold financial strategy that could see Bitcoin become part of its national reserves.
Lawmakers in Kyiv have introduced a draft law proposing that the National Bank of Ukraine (NBU) be permitted—but not required—to include cryptocurrencies in its gold and foreign currency reserves.
The bill, backed by several members of the Verkhovna Rada, including Yaroslav Zhelezniak, was unveiled on June 10. Zhelezniak described the measure as a forward-looking move aimed at modernizing Ukraine’s financial system without forcing immediate action. The central bank would retain full discretion over whether to hold digital assets like Bitcoin.
The proposal arrives as Ukraine’s economy continues to battle wartime pressures. Amid a contracting GDP, ongoing infrastructure challenges, and heavy reliance on international support, the flexibility to hold crypto reserves could offer Ukraine additional tools for economic stability and innovation.
Globally, the trend is gaining traction. The U.S. announced plans for a Bitcoin reserve earlier this year, while El Salvador made headlines in 2021 by adopting BTC as legal tender. Other nations, such as Switzerland, Brazil, and Hong Kong, are also advancing crypto strategies.
For countries in crisis, crypto can provide a workaround to financial restrictions, a hedge against local currency devaluation, and an entry point into the digital economy. If Ukraine adopts this legislation, it could mark a significant step toward embracing decentralized assets at the state level—positioning itself as a digital pioneer amid geopolitical uncertainty.
