National Bank of Ukraine Eyeing Bitcoin in Reserves

National Bank of Ukraine- Ukraine’s Parliament Considers Crypto Reserve Legislation

National Bank of Ukraine– Ukrainian lawmakers have introduced a draft bill enabling the National Bank of Ukraine (NBU) to include cryptocurrencies such as Bitcoin in the country’s official reserves. The proposal, submitted to Ukraine’s parliament, the Verkhovna Rada, aims to amend the law “On the National Bank of Ukraine” to allow crypto assets alongside traditional reserves like gold and foreign currencies.

Central Bank Maintains Full Control

According to Yaroslav Zhelezniak, a member of parliament who announced the bill on his Telegram channel, the legislation does not obligate the central bank to acquire cryptocurrencies but authorizes it to do so at its discretion.

How, when and how much should be the decision of the regulator itself.

This approach ensures the NBU retains full control over if, when, and how much to allocate in cryptocurrencies as part of the national reserves.

Strengthening Macroeconomic Stability with Crypto

Lawmakers believe creating a state crypto asset reserve could help integrate Ukraine into global financial innovations. Zhelezniak noted on Telegram that “proper management of crypto reserves will help strengthen macroeconomic stability and create new opportunities for the development of the digital economy.”

The draft bill was developed with input from experts including Kyrylo Khomiakov, Binance’s regional head for Central and Eastern Europe and Central Asia, and Petr Bilyk, an AI expert from Juscutum Legal Engineering.

Following Global Trends

Zhelezniak emphasized that the bill is not an active push for crypto adoption but a move to keep pace with growing global trends.

This story has the right to life, and, as we see, many countries are implementing it.

This initiative arrives as Ukraine advances toward finalizing the draft bill amid ongoing geopolitical challenges.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.