Ukraine Considers Cryptocurrency in National Reserves

According to Cointelegraph, Ukrainian lawmakers have introduced a draft bill in the Parliament to potentially include cryptocurrencies in the country's state reserves. The bill, numbered 13356, was submitted to Ukraine's Verkhovna Rada on June 10 and proposes amendments to the existing law on the National Bank of Ukraine. These amendments would allow the inclusion of crypto assets alongside gold and foreign exchange reserves.The proposed legislation authorizes Ukraine's central bank to allocate cryptocurrencies, such as Bitcoin (BTC), as part of the state reserves. However, it does not mandate the bank to do so. Yaroslav Zhelezniak, a member of parliament, confirmed the bill's introduction on his Telegram channel, emphasizing that the decision on how, when, and how much cryptocurrency to allocate should be left to the discretion of the National Bank of Ukraine.The lawmakers believe that establishing a state crypto asset reserve could enhance macroeconomic stability and integrate Ukraine into global financial innovations. Zhelezniak highlighted that proper management of crypto reserves could create new opportunities for the development of the digital economy. He also discussed the potential for a state crypto reserve in a video commentary with Kirill Khomyakov, Binance's regional head for Central and Eastern European countries and Central Asia.In the video, Zhelezniak noted the growing trend of countries establishing strategic reserves, mentioning jurisdictions like the United States, El Salvador, Switzerland, and Brazil. This development reflects a broader global movement towards incorporating cryptocurrencies into national financial strategies. As this story unfolds, further updates will be provided.