Ukraine Considers Bitcoin as National Reserve Asset Amid Growing Geopolitical Pressure
The Final Stages of Ukraine’s Bitcoin Strategic Reserve Project
Despite a backdrop of war and an economy reliant on international support, Ukraine is on the verge of adopting Bitcoin as a national reserve asset. A draft law to this effect is reportedly in its final stages of preparation, as announced by Deputy Yaroslav Zhelezniak, as reported by local media outlet Incrypted.
A Major Political Move under Geopolitical Pressure
We will soon submit a bill in the sector enabling the creation of crypto reserves.
The announcement came during the CRYPTO 2025 conference in Kyiv: a proposed law will soon allow for the establishment of ‘crypto reserves’ at the national level. Inspired by recent developments in the United States, where Donald Trump signed an order to create a national BTC reserve from judicial seizures, Ukraine seems poised to align itself with this strategic recognition of crypto-assets.
Meanwhile, other European political voices have also emerged, such as Swedish MP Rickard Nordin, urging his government to make Bitcoin a national hedge against inflation.
An Ambitious Reform Hindered by Legal Challenges
The Ukrainian initiative, while symbolically powerful, faces legal realities. Kyrylo Khomiakov, regional head at Binance, tempers the enthusiasm:
Establishing a crypto strategic reserve will require profound legislative changes.
This regulatory transformation effort could, however, solidify the Ukrainian government’s stance on cryptocurrencies in the long term.
Discussions are already underway with the National Bank of Ukraine and the IMF to incorporate crypto assets into the country’s financial regulations. A recent proposal includes taxation of up to 23% on certain crypto income, excluding crypto-to-crypto trades and stablecoins.
A Symbolic Maneuver Criticized from Within
Not everyone applauds this announcement. Michael Chobanian, founder of the Kuna platform, denounces it as a diversionary tactic.
The country is strapped for cash. More than half of the budget comes from international aid. The population is dwindling, men are being forcibly sent to war. What Bitcoin reserves are we talking about? It’s smoke and mirrors.
As Ukraine tries to present a cutting-edge digital image during an existential crisis, this announcement raises a burning question: a symbol of economic sovereignty or a smokescreen?
