Ukraine is working on laws to inkip Ukraine-based media outlets to establish national strategic Bitcoin reserves It has been reported on wednesday.
The Ukraine-based media outlet said it has confirmed its initiative with Jaroslav Zelezniak, a member of the parliament and the first vice-chairman of the Finance, Tax and Customs Policy Committee.
The bill is currently finalized and will be introduced in the near future, Zhelezniak said. At the beginning of February 2025, he mentioned preparations for a “draft law” that would allow the creation of cryptographic sanctuaries without providing details.
Following the announcement, Binance supports Ukraine’s efforts to build a Bitcoin reserve. The report mentioned active cooperation between the Global Exchange and the Ukrainian authorities, but did not elaborate on the scope of the collaboration.
Binance CEO Richard Teng told the Financial Times last month that the company We work with multiple countries Regarding the establishment of Bitcoin reserves and the creation of crypto regulations.
Governments and sovereign funds around the world have approached vinanence to seek support in setting up crypto sanctuaries, which spurred US custody policies, including President Trump’s executive order to establish US strategic Bitcoin sanctuaries.
Binance and its co-founder Changpeng Zhao (CZ) have recently been engaged in high-level crypto consultations with both Pakistan and Kyrgyzstan.
CZ has signed a memorandum of understanding with national investment institutions to advise on blockchain technology and regulatory frameworks.
Meanwhile, in Pakistan, CZ was He has been appointed as a strategic advisor On the Pakistan Crypto Council, his focus will include regulation, infrastructure, education and the adoption of cryptography.
These discussions did not involve the establishment of national crypto preparations at the time of their initial report, but CZ revealed in a post on May 5 that Kyrgyzstan recommended that they consider holding Bitcoin and Binance Coins in its preparations.
Ukraine aims to legalize encryption in the first quarter
Ukraine is accelerating efforts to establish a comprehensive legal framework for digital assets.
Crypto-legalization is expected in the first quarter of 2025, following the final decision on the draft bill currently being prepared by a specialized working group in conjunction with the National Bank of Ukraine and the International Monetary Fund (IMF). I said Daniel Getmantsev, head of the tax committee of Verkhovna Rada.
The legislation aims to establish financial surveillance and integrate anti-money laundering protocols. Profits from crypto transactions will be subject to capital gains tax upon conversion to Fiat currency.
According to Incrypted, previous versions of the bill have made progress through Congress, but have been recently withdrawn due to concerns from regulatory resistance, particularly from the National Securities and Stock Markets Committee.