The introduction of this bill does not mean that the government of Ukraine is actively promoting crypto, but instead does not want to miss out on the rising adoption- Member of Parliament.
The policymakers of Ukraine have introduced a draft bill permitting the National Bank of Ukraine to add crypto such as BTC to the country’s reserves. The bill was submitted to the parliament of the nation named Bill 13356.
The bill focuses on the amendment to the law on the National Bank of Ukraine related to including crypto assets alongside gold and foreign currencies. Yaroslav Zhelezniak, a member of parliament, confirmed the introduction of the bill through his Telegram Channel.
He also noted that while permitting the central bank to have crypto such as BTC as part of state reserves, the bill will not need the authority to do so. The central bank will hold full care over whether to allot any part of its reserves to crypto, the amount, and the time as well.
He further went on to add that how, when, and how much will be solely decided by the regulator.
However, the final decision will be of the National Bank of Ukraine; the policymakers are optimistic about creating such a potential state crypto asset reserve as a measure that will include the country in global financial revolutions.
Joining Other Countries
Zhelezniak issued a statement on his Telegram channel in which he mentioned that if crypto reserves are managed properly, it will lead to a boost in macroeconomic stability and give birth to new opportunities for the development of the virtual economy.
He also made it clear that the introduction of this bill does not mean that the government of Ukraine is actively promoting crypto, but instead does not want to miss out on the rising adoption around the world.
He referred to other governments, such as the United States and El Salvador, highly experimenting with state crypto reserves and said that this story has the right to life, and, as we see, a lot of countries are adopting it.
The matter follows reports on the country approaching the final stages of introducing a draft bill on a state crypto reserve. This measure came at the time of the ongoing Russia-Ukraine war, with nations continuing to work on a potential peace deal.