Ukraine Drafts Bill for National Bitcoin Reserve Amid Conflict

Ukraine is in the final stages of drafting a bill to establish a national strategic Bitcoin reserve, marking a significant step in the country's cryptocurrency strategy amidst ongoing economic uncertainty and conflict with Russia. The proposal, which focuses solely on Bitcoin and not broader crypto adoption, is expected to be submitted to parliament in the coming weeks. Ukrainian lawmaker Yaroslav Zhelezniak, Deputy Chairman of the Committee on Finance, Tax and Customs Policy, confirmed the bill’s status during discussions with local media. The initiative was first introduced publicly during the CRYPTO 2025 conference held in Kyiv, where Zhelezniak stated that a draft law allowing the creation of crypto reserves would be submitted soon. Initially, the focus was broader and included various digital assets, but recent developments indicate the proposal will now center specifically on Bitcoin.

Ukraine currently holds about 46,351 BTC, worth approximately $4.8 billion. These bitcoins mainly come from donations during the war, asset seizures, and fundraising activities. The bill aims to formally incorporate Bitcoin into the national financial strategy. 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.

For the bill to succeed, it 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. The introduction of the bill has not been scheduled so far. Before presenting it to parliament, lawmakers are editing the text to ensure clarity. The timing of the reserve proposal coincides with Ukraine’s negotiations to secure a ceasefire with Russia. 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.

Binance, the global cryptocurrency exchange, has indicated its 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 a quick process. 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.