Ukraine Drafts Bill for 40,000 BTC National Reserve With Binance, Led by MP Zheleznyak and IMF Coordination

Ukraine's parliament is preparing draft legislation to establish a national strategic Bitcoin reserve, with Member of Parliament Yaroslav Zheleznyak, First Deputy Chairman of the Committee on Finance, Tax, and Customs Policy, confirming that work on the bill is underway and expected to be submitted soon.

The initiative involves collaboration with Binance, the world's largest cryptocurrency exchange by volume, which is advising Ukraine on the creation of the reserve. Binance has expressed support for Ukraine's vision and is assisting with the legislative process.

A proposal under consideration would see Ukraine hold and not sell 40,000 BTC as part of the reserve. The draft legislation is reportedly in its final stages, with government officials indicating that the bill will be presented to parliament in the coming weeks. The legislation aims for passage in the first quarter of 2025 and is being developed in coordination with the International Monetary Fund.

Ukraine is also considering a new tax framework for cryptocurrencies, with proposed rates between 5% and 10% to regulate the market and support the national budget. According to public disclosures, Ukrainian officials collectively hold over 46,000 BTC, valued at around $5 billion. The country has received significant crypto donations since the start of the conflict with Russia.

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