Ukrainian Parliament Proposes Bill for Cryptocurrency Reserves

A newly proposed bill seeks to allow the National Bank of Ukraine to include cryptocurrencies in its reserves, potentially positioning Ukraine as a leader in digital asset integration.

BTC

Summary

Ukrainian lawmakers have proposed a draft bill that would enable the National Bank of Ukraine to include cryptocurrencies like Bitcoin in its reserves. The initiative, led by MP Yaroslav Zhelezniak, aims to modernize Ukraine's digital asset framework and strengthen macroeconomic stability. If approved by the Verkhovna Rada, Ukraine could become the first European nation to establish a state-run Bitcoin reserve, following similar efforts by other countries.

Terms & Concepts
  • Verkhovna Rada: The Verkhovna Rada is the national parliament of Ukraine, responsible for legislative functions.
  • National Bank of Ukraine: The central bank of Ukraine, which regulates the country's monetary policy and oversees the banking system.
  • cryptocurrency reserves: Assets held in the form of cryptocurrencies by a government or financial institution as part of its reserves.