Ukraine set to make Bitcoin history with first European strategic reserve

War-torn Ukraine may soon become the first European country to launch a Strategic Bitcoin Reserve, with support from global crypto giant Binance.

Yaroslav Zhelezniak, Deputy Chairman of the Committee on Finance, Tax and Customs Policy, made the announcement. He said a bill to create the reserve is nearly complete. He hopes to bring it before parliament in the next few weeks.

Ukraine has consistently been open to digital coins. The nation has been a trailblazer in embracing crypto-friendly rules, even as war with Russia rages. The war has made these things even more important for digital assets. Cryptocurrency donations helped Ukraine raise millions in humanitarian and defense aid in 2022 and 2023.

Now, the government is planning a full set of overhauls, allowing cryptocurrencies and the blockchain technology they are built on to go mainstream. The Ministry of Digital Transformation is leading the effort. The new law would categorize digital assets, establish exchange rules, and introduce clear tax guidelines. Officials said the measure could take effect as soon as possible if it becomes law.

Binance backs Ukraine’s cryptocurrency plans

Kirill Khomyakov, head of operations for Central and Eastern Europe, Central Asia, and Africa at Binance, said that Binance will help Ukraine set up the Bitcoin reserve.

He praised the concept but added, “It’s a heavy lift.”

According to Khomyakov, founding a national cryptocurrency reserve would require several large-scale changes in Ukrainian law. These changes will take time. Additionally, he said that current legislation does not allow the owning and managing of digital assets within the frame of official reserves.

But Binance is itself a believer in the long-term potential of the move. The company is also working with several countries to establish cryptocurrency-related legislation. Earlier, Binance co-founder and CEO Changpeng Zhao proposed that Kyrgyzstan and Kazakhstan should develop a sovereign approach to Bitcoin.

Binance has already worked with the Ukrainian government on several projects, including providing education on cryptocurrency and implementing exchange regulations.

Nations embrace Bitcoin as a strategic reserve asset

Ukraine is not alone. Other countries worldwide are beginning to see Bitcoin as a strategic resource.

In March 2025, the United States took the lead by establishing its Strategic Bitcoin Reserve. The reserve is supported by digital assets forfeited by law enforcement. This proves that the government is racing to embrace Bitcoin even as a tool for national security and economic independence.

All over Europe, Switzerland has been weighing such measures. The Brazilian Central Bank has also indicated that it is interested in researching digital reserves. The Central African Republic joined the fray of Bitcoin, which became a legal tender after El Salvador paved the way a few years back.

Experts say that as additional countries embrace Bitcoin, it could become an important part of global finance. It might be able to hold national wealth, underwrite international trade, or even stand in for parts of conventional foreign reserves.

The Ukrainian plan may be the first in Europe, but it likely will not be the last.

A new dynamic is now in play as potential ceasefire talks with Russia gain ground. A peaceful resolution could unleash economic recovery and optimism. That could, in turn, drive up confidence among investors and lift the prices of cryptocurrencies — making Ukraine’s proposed Bitcoin Reserve even more strategically valuable.

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