Ukraine has recently put forth a groundbreaking bill that could potentially change the landscape of its national reserves. The bill, introduced to the Verkhovna Rada on June 10, 2025, proposes amendments to existing legislation to include “virtual assets” such as Bitcoin in the foreign exchange and gold reserves of the National Bank of Ukraine (NBU).
While this doesn’t mean that Ukraine will immediately add Bitcoin to its balance sheet, it does pave the way for the central bank to consider doing so in the future. Member of Parliament Yaroslav Zhelezniak, one of the co-sponsors of the bill, made it clear that the legislation is about granting permission rather than imposing a requirement. The decision to actually include Bitcoin in the reserves would ultimately be left to the discretion of the institution.
Zhelezniak believes that Bitcoin could play a significant role in strengthening Ukraine’s economic position and fostering long-term digital innovation. This sentiment was echoed during a recent discussion with Kyrylo Khomiakov, Binance’s regional head.
The timing of this bill is crucial, given Ukraine’s ongoing financial struggles following Russia’s invasion in 2022. Inflation rates are high, the hryvnia has significantly depreciated, and the country heavily relies on international aid and loans. While the NBU currently holds around $44.5 billion in reserves, primarily in U.S. dollars and government securities, its flexibility is limited.
In a show of support for Bitcoin, back in 2022, the Ukrainian government actively solicited donations for the war effort through Bitcoin. An official wallet was set up for donations, and politicians publicly shared the wallet addresses to garner support. On the first day alone, Ukraine’s Bitcoin wallet raised over $3.5 million. This move demonstrated the government’s trust and dedication to Bitcoin, a sentiment that is further reinforced by the introduction of this new bill.
If passed, this bill could potentially position Ukraine as one of the first countries to authorize its central bank to hold Bitcoin as a strategic reserve asset. This bold step could not only diversify Ukraine’s reserves but also showcase its forward-thinking approach towards embracing digital assets in a rapidly evolving financial landscape.