Ukraine has taken a historic step toward integrating cryptocurrency into its national financial system. On June 10, 2025, a group of lawmakers in the Verkhovna Rada introduced Draft Law No. 13356, proposing amendments to the law “On the National Bank of Ukraine.” The bill would empower the central bank to include virtual assets like Bitcoin in the country’s gold and foreign currency reserves.
The legislation, which does not mandate crypto acquisitions but permits them, marks a significant shift in financial policy. The move is seen as both a response to Ukraine’s wartime economic instability and an effort to align with growing global trends in sovereign crypto adoption.
DRAFT LAW 13356: WHAT IT PROPOSES
Introduced by Yaroslav Zhelezniak, First Deputy Chairman of the Verkhovna Rada’s Committee on Finance, Tax and Customs Policy, the draft law grants the National Bank of Ukraine (NBU) discretionary authority to manage crypto reserves.The bill stipulates:
- Virtual assets, including Bitcoin, may be held as part of Ukraine’s national reserves.
- The NBU has full autonomy over the quantity, timing and method of acquisition.
- The legislation serves as an enabling mechanism rather than a requirement.
Zhelezniak emphasized via Telegram that this approach avoids political interference, stating, “How, when and how much should be the decision of the regulator itself.”
STRATEGIC RATIONALE & ECONOMIC IMPLICATIONS
Supporters of the bill believe that adding crypto to national reserves could improve macroeconomic stability. According to Zhelezniak, such a step would integrate Ukraine into global financial innovations and support the country’s fast-growing digital economy.
Ukraine already holds over 46,000 BTC, worth more than $5 billion, as per BiTBO data. Incorporating crypto formally into national reserves would help diversify the country’s asset base amid ongoing geopolitical tensions and inflationary pressures.
Proponents argue that, much like gold, Bitcoin acts as a hedge against systemic risks. By expanding its reserve toolkit to include digital assets, Ukraine could enhance its financial flexibility during crises.
UKRAINE JOINS A GLOBAL MOVEMENT
Ukraine’s initiative follows a broader global trend of sovereign crypto adoption. In 2021, El Salvador became the first nation to recognize Bitcoin as legal tender and establish a BTC reserve. The United States, under President Donald Trump, recently launched a “digital Fort Knox” initiative to create a strategic Bitcoin reserve.
Other nations including Switzerland, Brazil, China, the Czech Republic, Pakistan, Kyrgyzstan and various EU states are either exploring or implementing crypto-based financial strategies. Ukraine would become the first European country to legally permit its central bank to hold crypto in national reserves if the bill is passed.
EVERTZ PHARMA: GERMANY’S FIRST BITCOIN-RESERVE FIRM
Ukraine’s state-level ambition comes as private sector adoption also accelerates. Evertz Pharma GmbH, a German cosmetics company, has expanded its Bitcoin reserve with a new acquisition of 100 BTC worth over €10 million in May 2025.
The company has been allocating portions of its profits into Bitcoin since 2020. Group CFO Tobias Evertz explained that Bitcoin provides a store of value, inflation hedge and liquidity advantage. He noted plans to continue investing corporate profits into BTC to strengthen long-term financial resilience.
This demonstrates how both corporate and national treasuries are beginning to treat Bitcoin as a core reserve asset, reshaping traditional treasury management frameworks.
