Ukraine Proposes Bitcoin Inclusion in National Reserves

Ukraine is making a significant move towards financial innovation by proposing a new draft bill in its Parliament. This bill, if passed, would allow the National Bank of Ukraine (NBU) to hold Bitcoin and other cryptocurrencies as part of its national reserves, alongside gold and foreign exchange. The draft law, titled “Draft Law on Amendments to the Law of Ukraine On the National Bank of Ukraine regarding the inclusion of virtual assets in the gold and foreign exchange reserves of Ukraine,” was submitted on June 10, 2025, by several members of the Verkhovna Rada, including Yaroslav Zhelezniak, Oleksiy Zhmerenetskyi, and Maksym Buzhanskyi.

Zhelezniak, who confirmed the development through his official Telegram channel, described the move as a step forward in modernizing Ukraine’s financial infrastructure. The proposed legislation does not mandate the NBU to purchase or hold crypto assets but rather gives the central bank the legal option to include digital assets like Bitcoin in its reserves. The decision on how, when, and how much to invest would be left to the regulator.

This move comes at a critical time for Ukraine, as the country faces severe economic stress due to the ongoing war. The inclusion of crypto in national reserves could support macroeconomic stability, attract foreign investment, encourage digital innovation, and help integrate Ukraine into the global economy. By embracing cryptocurrencies, Ukraine aims to boost its economic resilience and drive digital innovation during its post-war recovery.

Ukraine is not the only country exploring the idea of crypto reserves. Globally, nations are considering similar strategies. For instance, the United States launched a Strategic Bitcoin Reserve in March 2025, and El Salvador made Bitcoin legal tender in 2021. Switzerland and China Hong Kong have introduced crypto-friendly policies, and Brazil is reportedly considering its own Bitcoin reserve. These countries, like Ukraine, see crypto as a means to access global markets, bypass traditional banking restrictions, hedge against inflation, and empower digital economic growth.

For countries facing economic instability or conflict, cryptocurrencies offer several advantages. They provide access to global markets, allow for the bypassing of traditional banking restrictions, serve as a hedge against inflation and currency collapse, and empower digital economic growth. Ukraine follows the path of other nations like Pakistan, which created a Crypto Council in March 2025 and later allocated energy for Bitcoin mining and AI data centers, and El Salvador, where economic instability led to the historic adoption of Bitcoin.

If passed, Ukraine’s crypto bill could mark a turning point for the country, aligning it more closely with global financial innovation. Allowing the central bank to hold Bitcoin as a reserve asset could strengthen the economy and position Ukraine as a crypto-forward nation in the post-war recovery phase. However, there are potential risks, including Bitcoin’s price volatility impacting reserve valuation, cybersecurity threats for digital assets, and the need for significant legal and regulatory changes for proper management.