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Ukraine is preparing legislation to create a national strategic reserve of Bitcoin. This was stated by Yaroslav Zhelezniak, MP and first deputy chairperson of the Verkhovna Rada Committee on Finance, Tax and Customs Policy. The legislation, he added, is in the final drafting phase. This bill will be brought before parliament shortly. This confirms the recent rumors that the government was actively considering this action.
The plan is an extension of one Zhelezniak proposed in February, which would introduce a law that enables Ukraine to officially accumulate and manage crypto reserves. Although initial information was limited, the legislative plan is beginning to become more defined as Ukraine looks for official means to deal with its expanding digital holdings, most of which have been received through war donations.
Ukraine has been striving to adopt a comprehensive virtual assets regime for years. In late April, an important draft law on digital assets was voted on unanimously by the Finance Committee for a first reading. But it was unilaterally withdrawn after protests by the National Securities and Stock Market Commission (NSSMC) and the Presidential Office.
The NSSMC subsequently explained that it had provided 80 amendments to the bill but had no solid responsibility for its suspension.
Global cryptocurrency exchange Binance is taking an advisory role in formulating Ukraine’s initiative. Kirill Khomyakov, Binance regional head for Central and Eastern Europe, confirmed the support of the firm. He also provided a word of caution, stating that it would need substantial legal reforms.
“The establishment of such a reserve will involve considerable amendments to legislation,” he said, adding that this is not a matter for the short term. He further stated that the initiative would make Ukrainian crypto rules more transparent.
Even without legal status in the classical sense, Ukraine is already among the largest national government holders of Bitcoin. Government-controlled accounts hold about 46,351 BTC, worth about $4.8 billion, as BitcoinTreasuries data points out, making Ukraine fourth in the world after the US, China, and the UK.
A lot of this crypto came in the form of donations following Russia’s 2022 invasion. Blockchain analytics company Elliptic estimates pro-Ukraine campaigns raised more than $212 million worth of crypto, with $83 million directly transferred to government-backed addresses. A different fund set up by Kyiv-based exchange Kuna and the Ministry of Digital Transformation raised more than $100 million in just two months of operation.
Ukraine’s action follows recent developments in the United States. President Donald Trump signed an executive order in March 2025 to create a Strategic Bitcoin Reserve. The US strategy aims to aggregate Bitcoin confiscated in lawful actions and investigate neutral-budget means of acquiring additional funds.
Ukraine’s proposed law, once passed, would put the nation at the top of sovereign crypto policy in Eastern Europe.
