Ukraine Proposes Bill to Let Central Bank Hold Bitcoin in National Reserves

June 11, 2025 – Kyiv, Ukraine — Ukrainian lawmakers have introduced a new draft bill that would allow the National Bank of Ukraine (NBU) to hold cryptocurrencies, including Bitcoin, as part of the country’s official reserves.

Filed in the Verkhovna Rada under bill number 13356, the proposal aims to amend Ukraine’s existing law “On the National Bank of Ukraine.” If passed, it would expand the scope of assets eligible for reserve holdings beyond traditional instruments like gold and foreign currencies.

Discretionary Power, Not a Mandate

The bill grants the NBU the option to include crypto assets, but does not mandate any specific allocation. Decisions on how much to hold, when to acquire, or whether to act at all would remain at the full discretion of the central bank.

“How, when and how much should be the decision of the regulator itself,” said MP Yaroslav Zhelezniak, who announced the draft via Telegram.

A Step Toward Financial Modernization

Lawmakers backing the bill view crypto reserves as a strategic move to align Ukraine with global financial trends. They argue that the ability to hold digital assets could enhance macroeconomic resilience and open doors for digital economy growth.

“Proper management of crypto reserves will help strengthen macroeconomic stability and create new opportunities for the development of the digital economy,” Zhelezniak added.

Global Trend Toward Crypto Reserves

The move comes amid growing international interest in crypto-based state reserves. Countries such as El Salvador, Switzerland, Brazil, and even U.S. municipalities have explored or implemented similar strategies. In a video discussion with Binance executive Kirill Khomyakov, Zhelezniak highlighted this global trend, noting that Ukraine should not fall behind.

Next Steps

The bill will need to pass several stages in parliament before becoming law. If adopted, it would not automatically trigger crypto purchases but would create the legal foundation for the NBU to explore crypto asset holdings in the future.

Ukraine has already been active in exploring blockchain technology, with digital asset legislation in progress and a tech-savvy population driving strong adoption. This new measure adds to its growing role in the evolving global crypto economy.