Ukraine intends to launch a strategic bitcoin reserve under the new cryptographic law

According to Coincentral, Ukraine is working on a legal framework for holding bitcoin in its national reserves, and a special parliamentary committee headed by a finance official is finalizing the draft legislation, according to Coincentral.

Senior parliamentarian Yaroslav Zhelezniak confirmed that Ukraine plans to build an infrastructure for cryptocurrency reserves, and he is responsible for overseeing the preparation of the relevant draft law. The proposal aims to regulate how the state acquires, stores and manages its Bitcoin reserves, seeking to be consistent with cryptocurrency regulations expected to be introduced in 2025, with laws that will support the holding of digital assets for national fiscal planning, and authorities that will ensure transparency, compliance, and oversight by central banks and regulators.

It is reported that Ukraine is receiving support from Binance to establish a national bitcoin reserve, and the cooperation includes providing guidance on the reserve mechanism and technical infrastructure, and the two sides are actively discussing the implementation of the reserve strategy. In addition, Ukraine, in coordination with the National Bank and the International Monetary Fund, plans to adopt a comprehensive law on digital assets by early 2025, covering fiscal policy development, exchange regulation, anti-money laundering measures, and capital gains tax, among others, clarifying the legal responsibilities of market participants and state institutions.

8.54K

The content on this page is provided by third parties. Unless otherwise stated, OKX TR is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX TR. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX TR is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.