Crypto News: Ukraine Plans Europe’s First Binance-Backed Bitcoin Reserve
Nidhi Kolhapur15 May 20252 min read
Ukraine is all set to make history by creating Europe’s first Strategic Bitcoin Reserve — a step backed by Binance. The country is currently pushing to legalize cryptocurrency and expand its financial system.
As reported by Incrypted, officials have confirmed the plans to introduce the bill soon. However, the proposal is not yet finalised. Earlier this year, top finance official Yaroslav Zheleznyak talked about draft laws to create crypto reserves, but no details were shared.
Kirill Khomyakov, Binance’s head for CEE, Central Asia, and Africa, said that Binance fully supports Ukraine’s plan. Although it will need big changes and won’t happen overnight, he added that it is still a big step forward that will clear up crypto rules in Ukraine.
Ukraine Pushes for Crypto Framework
Ukraine is pushing to legalize crypto by 2025 with a draft bill in the works that will include capital gains taxes on crypto-to-fiat conversions and stricter anti-money laundering rules.
A previous bill faced delays in the President’s office due to some concerns, particularly from the National Securities and Stock Market Commission. However, the Commission denied blocking the bill, and instead proposed 80 amendments.
Binance is working with several countries on introducing Bitcoin reserves and crafting crypto regulations, and has recently held high-level talks with Pakistan and Kyrgyzstan. It has also worked with Ukraine on crypto education and exchange regulations. Even during war, Ukraine embraced crypto and raised millions through donations to help with humanitarian and defense aid.
Ukraine Eyes Europe’s First Strategic Bitcoin Reserve
Ukraine is not the first to explore this idea. El Salvador was the first to create a Bitcoin Reserve with 6,000+ BTC. In 2025, the US also launched its Strategic Bitcoin Reserve, and Brazil is researching digital reserves. Japan, the UAE, and Singapore could all create Bitcoin Reserves as part of their financial strategies in the future, given their active involvement.
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FAQs
- El Salvador and the U.S. have Bitcoin reserves; Brazil, Japan, UAE, and Singapore are exploring it.
