Ukrainian lawmakers have introduced legislation that could make Bitcoin part of the country’s official financial reserves. If passed, Ukraine would become the first European nation to hold the cryptocurrency in its national reserves.
The bill, proposed by Member of Parliament Yaroslav Zhelezniak, seeks to amend the Law on the National Bank of Ukraine. This amendment would authorize the central bank to hold and manage cryptocurrency assets like Bitcoin alongside traditional reserve assets.
This initiative aligns Ukraine with countries including the United States and El Salvador in recognizing digital assets as legitimate components of sovereign wealth. The legislation would grant the National Bank discretionary authority to accumulate crypto reserves, potentially enhancing macroeconomic stability and fostering digital economic growth.
Ukraine’s move could position it as a European leader in cryptocurrency adoption, attracting increased investment and innovation. However, successful implementation requires robust risk management strategies to address volatility and security challenges associated with digital assets.