Ukraine Eyes Strategic Crypto Reserve: Report
Ukraine is considering establishing a strategic state crypto reserve, potentially joining countries like El Salvador and the U.S. Yaroslav Zhelezniak, deputy chairman of Ukraine's Committee on Finance, plans to submit a bill for approval soon, currently in the finalization stage. Kirill Khomyakov from Binance supports the initiative, noting it could enhance crypto regulation but will require significant legislative changes. Ukraine holds Bitcoin worth $4.8 billion, primarily from donations during the war, ranking just below China, the UK, and the U.S. in Bitcoin holdings. A draft bill on digital asset regulation has been under consideration since April but is currently blocked in parliament. Other nations are also exploring national crypto reserves, though many proposals have faced opposition, including from central bankers in Switzerland and leaders in the UK and South Africa, citing regulatory risks. Meanwhile, countries like the Czech Republic are moving forward with their plans to accumulate Bitcoin.
