Ukraine plans to launch strategic Bitcoin reserves under new crypto law plan

PANews May 15th news, according to Coincentral, Ukraine is developing a legal framework for holding bitcoin in its national reserves, and a special parliamentary committee led by financial officials is finalizing the draft legislation. Senior MP Yaroslav Zhelezniak confirmed that Ukraine plans to build a cryptocurrency reserve infrastructure, and he is responsible for overseeing the preparation of relevant draft laws. The proposal aims to regulate how countries acquire, store and manage Bitcoin reserves, strives to be consistent with cryptocurrency regulations expected to be issued in 2025. The law will support holdings of digital assets for national fiscal planning, and the authorities will ensure transparency, compliance and supervision by central banks and regulators.

It is reported that Ukraine is receiving support from Binance to establish national Bitcoin reserves, and cooperation includes providing guidance for reserve mechanisms and technical infrastructure. The two sides are actively discussing the implementation of the reserve strategy. In addition, Ukraine plans to coordinate with the National Bank and the International Monetary Fund to pass a comprehensive digital asset law in early 2025, covering fiscal policy formulation, exchange norms, anti-money laundering measures and capital gains taxes, etc., to clarify the legal responsibilities of market participants and state institutions.