Lawmakers in Ukraine Propose Legislation to Establish a Reserve Fund Backed by Bitcoin and Other Cryptocurrencies
Here's a fresh take on the given article:
Ukrainian lawmakers have tossed a game-changer into the crypto world by presenting a bill to revamp the National Bank of Ukraine (NBU) framework, suggesting the addition of Bitcoin and other virtual assets to Ukraine's gold and foreign reserves. Let's dive into the details.
On June 10, 2025, with draft law number 13356, Ukraine is making a major stride in cryptocurrency adoption, evident amid the nation's economic hardships due to the ongoing war with Russia. The bill, unveiled during the 13th session of the Verkhovna Rada, intends to diversify Ukraine's national reserves, incorporating virtual assets alongside traditional gold and foreign currency holdings.
Should the bill pass, the NBU, in charge of managing the country's reserves, might soon oversee virtual assets such as Bitcoin in its portfolio. Yaroslav Zhelezniak, a member of Ukrainian parliament, confirmed the bill via his Telegram channel, assuring that the bank will handle purchases independently, avoiding any government interference.
The proposed Ukrainian strategy echoes a global trend where nations are inspecting the integration of cryptocurrencies into their financial systems. The United States is seeing institutional rising interest, thanks to Bitcoin Exchange-Traded Funds (ETFs), while countries like El Salvador have already embraced Bitcoin as legal tender, luring significant foreign investment. Switzerland, Brazil, and the Czech Republic are also reportedly considering similar strategies.
Currently, the bill is under the scrutiny of the Verkhovna Rada's economic policy committee, with public consultations on the horizon. If approved, Ukraine could become the first European nation to incorporate virtual assets into its national reserves, potentially creating a trend among war-torn or economically struggling countries.
Don't forget to check out our other article: "CLARITY Act" Crypto Bill Clears Approval from US Lawmakers
- The proposed incorporation of Bitcoin and other virtual assets into Ukraine's national reserves suggests a shift in the cryptocurrency industry.
- The United States' increasing interest in cryptocurrencies is demonstrated by the growing popularity of Bitcoin Exchange-Traded Funds (ETFs), a trend within the finance business.
- On a global scale, various countries, such as El Salvador, Switzerland, Brazil, and the Czech Republic, are examining the integration of cryptocurrencies into their financial systems, reflecting a broader trend in politics and general-news.
- If Ukraine successfully passes the bill, it could potentially catalyze a trend among war-torn or economically struggling countries, showcasing a significant move in the cryptocurrency and overall business landscape.
