Ukraine is positioning itself at the forefront of national cryptocurrency adoption with plans to establish Europe’s first strategic Bitcoin reserve.
Member of Parliament Yaroslav Zhelezniak, who serves as First Deputy Chairman of the Committee on Finance, Tax and Customs Policy, has confirmed that legislation for this groundbreaking initiative is being finalized and will soon be presented to parliament, as reported by Ukrainan crypto media outlet Incrypted.
“We will soon submit a draft law from the industry allowing the creation of crypto reserves,” Zhelezniak stated earlier this year. Recent developments indicate the focus has narrowed specifically to Bitcoin rather than a broader range of digital assets.
The initiative represents a significant pivot in Ukraine’s financial strategy and follows global trends of nations considering Bitcoin as a hedge against economic uncertainty. Zhelezniak’s upcoming bill would establish the legal framework necessary for Ukraine to begin accumulating Bitcoin as a national asset.
Possible Binance Partnership
Leading global cryptocurrency exchange Binance has pledged its support for Ukraine’s Bitcoin reserve ambitions. Kirill Khomyakov, Head of Binance in CEE, Central Asia, and Africa, endorsed the plan while acknowledging the substantial regulatory changes required.
“The creation of such a reserve will require significant changes in legislation, which indicates that this process will not be quick,” Khomyakov mentioned to Incrypted. “Another positive aspect is that this initiative will likely lead to greater clarity in the regulation of crypto assets in Ukraine, as the government will need to more clearly articulate its position on this issue.”
The collaboration with Binance suggests Ukraine is seeking experienced partners in the cryptocurrency space to help navigate the complex technical and security considerations of establishing a national Bitcoin reserve.
Financial Strategy Amid Regulatory Changes
This move comes during ongoing efforts to regulate Ukraine’s cryptocurrency sector. While the draft law on virtual assets was recently withdrawn from consideration at the initiative of the President’s Office, the National Securities and Stock Market Commission has submitted 80 amendments to the updated legislation.
Ukraine’s national initiative mirrors developments in several U.S. states that have already established Bitcoin reserves. Texas, Wyoming, and New Hampshire have pioneered state-level Bitcoin treasury strategies, with Texas holding over $500 million in Bitcoin as of early 2025. These American states have cited financial sovereignty, inflation hedging, and strategic positioning in the evolving digital economy as primary motivations.
If successful, Ukraine’s strategic Bitcoin reserve could serve as a model for other European nations considering similar initiatives. The country’s forward-thinking approach places it among a select group of nations—including El Salvador and the Central African Republic—that have formally embraced Bitcoin as part of their national financial strategy.
As Ukraine finalizes the legislative framework, global financial observers will be watching closely to see how this pioneering initiative unfolds and whether it triggers a wave of similar adoptions across Europe and beyond.