Ukraine Eyes Strategic Bitcoin Reserve in Partnership with Binance

The government of Ukraine has announced plans to establish a strategic Bitcoin (BTC) reserve in partnership with Binance, the largest crypto exchange. The authorities noted that they will submit the relevant documents and that the partnership deal is nearly finalized. 

Commenting on the latest plan, Yaroslav Zhelezniak, First Deputy Chairman of the Committee on Finance, Tax and Customs Policy, said: 

We will soon submit a draft law from the industry allowing the creation of crypto reserves. 

Ukraine Creates Crypto Framework  

Recall that in early February 2025, the deputy chairman disclosed that the Ukrainian authorities are preparing a legislative initiative to create a crypto reserve. The government also noted that it has continued the process of creating a regulatory framework for the crypto sector.

Last month, the finance committee in Ukraine’s parliament unanimously approved a draft law on virtual assets. Lawmakers are expected to introduce the bill to the Verkhovna Rada for its first reading soon. 

However, Zhelezniak recently reported that the President’s office withdrew the virtual assets bill, citing opposition from the National Securities and Stock Market Commission, led by Ruslan Magomedov.  

Furthermore, the commissioner clarified that it holds no authority over decisions concerning the potential suspension or blocking of the bill’s consideration in the Verkhovna Rada. Additionally, he submitted a comprehensive list of 80 amendments and comments to the updated draft law for parliamentary review. 

According to Kirill Khomyakov, Head of Binance in CEE, Central Asia, and Africa, the initiative to establish a national crypto reserve implies a complex and lengthy legislative process. However, it also presents an opportunity for Ukraine to refine its regulatory framework. It will enable the government to offer more defined guidelines and boost legal certainty in the crypto sector.  

Countries Proposing National Bitcoin Reserves  

Over the years, several countries, like Russia, have proposed a national Bitcoin reserve to strengthen their financial stability. CoinTab reported that the Russian authorities plan to establish a crypto reserve, citing BTC’s performance.  

In addition to creating a strategic Bitcoin reserve, Coinbase CEO Brian Armstrong proposed that the United States should include BTC as a primary asset. He stated that he prefers using BTC. The Coinbase executive also compared BTC and gold in terms of being a reliable store of value.

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