Key dealers
- Ukraine prepares legislation to establish a national Bitcoin reserve with Binance Help.
- The initiative aims to clarify crypto access regulation in Ukraine, which requires significant legislative changes.
Ukraine works with legislation to set up a national strategic bitcoin reserve, Ukraine-based media outlets that are incredible reported On Wednesday.
The Ukraine-based media outlet said that the confirmed initiative with the Yaroslaven Zhelezniak, MP and the first vice chairman of the Finance, Tax and Customs Policy Committee.
The proposal for the law is currently being completed and will be submitted in the near future, Zhelezniak said. Earlier in February 2025, he had mentioned to prepare “a draft law” which allows the creation of crypto reserves, without providing additional details.
According to the announcement, Binance supports Ukraine’s efforts to build the Bitcoin reserve. While the report mentioned active cooperation between the global exchange and Ukraine’s authorities, it did not develop the framework for cooperation.
Binance CEO Richard Teng told Financial Times last month that the company is cooperation with multiple countries When establishing bitcoin reserves and design of crypto rules.
Governments and sovereign wealth funds around the world have contacted Binance for help in establishing their cryptores, tense by US pro-Crypto policy, including President Trump’s executive order to establish an American strategic Bitcoin reserve.
Binance and its co -founder Changpeng Zhao (CZ) have recently been involved in high -level crypto consultations with both Pakistan and Kyrgyzstan.
CZ signed a memorandum of understanding with the National Investment Agency to advise on blockchain technology and regulations.
Meanwhile, CZ was in Pakistan appointed to a strategic adviser To Pakistan Crypto Council, where his focus includes regulation, infrastructure, education and adoption of crypto.
While these discussions did not involve the establishment of national crypto reserves at first reporting, CZ revealed in a post on May 5 that he had recommended Kyrgyzstan considering holding bitcoin and Binance Coin in their reserves.
Ukraine aims to legalize crypto under Q1
Ukraine speeds up efforts to establish a comprehensive judicial framework for digital assets.
Crypto Legalization is expected during the first quarter of 2025, following the completion of a draft bill that is currently being prepared by a specialized working group in coordination with the National Bank of Ukraine and the International Monetary Fund (IMF), mentioned Daniel Getmantsev, head of Verkhovna Rada’s Tax Committee, in a statement from December.
The legislation aims to establish fiscal monitoring and integrate Anti -Penal Wash Protocols. The profit from crypto transactions will be the subject of capital gains tax when conversion to a Fiat currency.
According to imprinted, an earlier version of the bill had advanced by Parliament but was recently returned, reportedly due to concern from the president’s office and legislative resistance, especially from the National Securities and Stock Market Commission.