Ukraine Set to Legalize Crypto by Early 2025, Explores Bitcoin Reserve
Ukraine is set to legalize cryptocurrencies by early 2025, with a focus on regulation and fiscal oversight. The move comes as the country also explores the establishment of a national strategic Bitcoin reserve.
A draft law for the Bitcoin reserve is nearing completion, according to Ukrainian Member of Parliament Yaroslav Zhelezniak. Binance, a leading cryptocurrency exchange, has expressed support for Ukraine's initiative.
The first parliamentary reading for the cryptocurrency legalization bill is targeted for the first quarter of 2025. A specialized working group, including the National Bank of Ukraine (NBU) and the International Monetary Fund (IMF), is finalizing the draft legislation. Currently, there is no specific information on which government agency is leading the effort to set up a legal framework for the Bitcoin reserve.
Binance's Head of CEE, Central Asia, and Africa, Kirill Khomyakov, acknowledged the need for significant legislative changes and a clearer regulatory stance on crypto assets from the Ukrainian government. Binance has engaged with several governments in Central and South Asia to advise on blockchain implementation and digital payments.
Ukraine's plans to legalize cryptocurrencies and establish a Bitcoin reserve are progressing, with key stakeholders engaged in the process. The first parliamentary reading is expected in early 2025, marking a significant step towards clearer regulation and fiscal oversight in the crypto space.
Read also:
- Germany's Social Workers in High Demand Despite Salary Disparities
- Minimal Essential Synthetic Intelligences Enterprise: Essential Minimum Agents
- Tesla is reportedly staying away from the solid-state battery trend, as suggested by indications from CATL and Panasonic.
- UK automaker, Jaguar Land Rover, to commit £500 million for electric vehicle manufacturing in Merseyside
