Ukraine threw its hat into the Bitcoin ring with a new bill that could allow its central bank to hold Bitcoin and other assets in its national reserves. Submitted to the Verkhovna Rada on June 10, 2025, this draft law aims to update existing regulations and officially include “virtual assets” as part of Ukraine’s foreign exchange and gold reserves.
NEW: Ukraine introduces bill for Bitcoin Reserve in Parliament 🇺🇦 pic.twitter.com/bYIiCNF13D
— Bitcoin Magazine (@BitcoinMagazine) June 17, 2025
Now, don’t go thinking Bitcoin will appear on Ukraine’s balance sheet overnight; the bill isn’t a mandate, but more of a "permission slip." If passed, it would give the central bank the option to add Bitcoin to its reserve portfolio. Whether they actually do so is up to the National Bank of Ukraine (NBU), which seems like a “we’ll cross that bridge when we get there” situation.
The Power of Bitcoin in Ukraine’s Crisis
Yaroslav Zhelezniak, one of the bill’s co-sponsors, explained that this isn’t about forcing the NBU to load up on Bitcoin. Instead, it’s about giving them the green light to do so if they think it’s a good idea.
“Whether and to what extent they actually do so is up to the institution itself,” he said.
I mean, I think it’s pretty bold of Ukraine to keep leaning into Bitcoin after using it for war donations back in 2022. On the first day alone, Ukraine’s official Bitcoin wallet raised a whopping $3.5 million! The government wasn’t shy about asking for support, and this new bill is just another sign of their continued belief in Bitcoin's potential, even in the midst of a war.
But let's face it, Ukraine’s financial situation is tricky. Since Russia’s invasion in 2022, inflation has been soaring, the hryvnia has taken a nosedive, and international aid has been keeping the country afloat. The NBU currently holds around $44.5 billion in reserves, mostly in U.S. dollars and government securities. But it’s clear that the room to maneuver is getting tighter by the day.
If this bill passes, Ukraine might just be one of the first countries to officially give its central bank the ability to hold Bitcoin as a strategic reserve asset. How’s that for making a bold statement in the world of finance?
Gunel Ismayilova
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