Ukrainian lawmakers introduce digital asset reserve bill
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Lawmakers in Ukraine have introduced a draft bill allowing the National Bank of Ukraine (NBU)—the country's central bank—to include digital assets such as Bitcoin in the country's reserves.
Submitted to the Verkhovna Rada—Ukraine's parliament—last June 10, Bill number 13356 proposes amendments to the law 'On the National Bank of Ukraine' to include digital assets alongside gold and foreign currencies as potential reserve assets.
While the bill lays the groundwork for a digital asset reserve, it does not mandate one, according to Yaroslav Zhelezniak, a member of parliament who confirmed the introduction of the bill on his Telegram channel.
Zhelezniak explained that the bill simply authorizes the central bank to acquire digital assets as part of state reserves.
'How, when and how much should be the decision of the regulator itself,' he said.
In other words, it would be up to the NBU to decide whether to allocate any portion of its reserves to digital assets, how much to allocate, and when. Although the final decision is in the hands of the central bank, the introduction of the bill makes clear that—at least some—Ukrainian lawmakers support the creation of a state digital asset reserve.
'Proper management of crypto reserves will help strengthen macroeconomic stability and create new opportunities for the development of the digital economy,' wrote Zhelezniak.
He added that 'this story has the right to life, and, as we see, many countries are implementing it'—a reference to other jurisdictions exploring digital asset reserves, notably the United States, El Salvador, Singapore, and Bhutan.
Zhelezniak expanded on this in a YouTube interview with Binance's regional head for Central and Eastern European countries and Central Asia, Kyrylo Khomiakov, in which the lawmaker was keen to emphasize that the introduction of the draft bill does not mean the Ukrainian government is actively campaigning for the digital asset. Instead, it does not want to miss out on growing adoption worldwide.
Binance's Khomiakov was part of a group that helped draft the reserve bill, along with a range of other industry experts and contributors, including Petr Bilyk, head of artificial intelligence practice at local law firm Juscutum Legal Engineering and a member of Ukraine's expert committee on AI development.
Watch: Reggie Middleton on DeFi, booms/busts & crypto regulation
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