Information has emerged online about the possible creation of a state strategic Bitcoin reserve by the Ukrainian authorities. This information was confirmed in a conversation with Incrypted by Yaroslav Zhelezniak, First Deputy Chairman of the Committee on Finance, Tax and Customs Policy.

He said that he plans to submit the relevant bill in the near future. So far, the text is at the stage of finalization.

Note, in early February 2025 Zheleznyak has already talked about the preparation of a legislative initiative on the possibility of creating cryptocurrency reserves. Then the MP did not disclose details, but said:

«We will soon submit a draft law from the industry allowing the creation of crypto reserves».

Kirill Khomyakov, Head of Binance in CEE, Central Asia, and Africa, stated in a comment to Incrypted that Binance supports Ukraine’s ambition to create a strategic crypto reserve. He added:

“The creation of such a reserve will require significant changes in legislation, which indicates that this process will not be quick. 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”.

Let us recall that Ukraine is actively continuing the process of establishing regulations for the cryptocurrency sector. At the end of April, the Verkhovna Rada Committee on Finance, Tax and Customs Policy unanimously approved the draft law on virtual assets. It was expected that the bill would be submitted to the Verkhovna Rada for a first reading in the near future.

However, recently, Zhelezniak stated that the draft law on virtual assets was withdrawn from consideration at the initiative of the President’s Office. According to him, this was influenced by the position of the National Securities and Stock Market Commission, particularly its chairman, Ruslan Magomedov.

Later, the Commission stated that it “has no relation to decisions regarding the possible suspension or blocking of the bill’s consideration in the Verkhovna Rada, as it is not authorized to make such decisions”/ Furthermore, the Commission submitted a list of 80 amendments and comments to the updated draft law to the Verkhovna Rada.