Ukraine Aims to Launch Europe’s First Binance-Backed Bitcoin Reserve

Ukraine is set to become the first European nation to establish a Strategic Bitcoin Reserve — with full support from Binance. According to Incrypted, the government is preparing a draft bill to introduce the initiative, although it has not yet been officially presented.

Kirill Khomyakov, Binance’s regional head for Central and Eastern Europe, Central Asia, and Africa, confirmed their backing. While he noted that the project will take time and major changes, he called it a significant move that could bring clarity to Ukraine’s crypto landscape.

The draft law is expected to include capital gains taxes on crypto-to-fiat conversions and enhanced anti-money laundering (AML) regulations. Ukraine aims to finalize a full crypto legal framework by 2025. A previous bill faced delays due to objections from the presidential office and recommendations from the National Securities and Stock Market Commission, which proposed 80 amendments.

Even during wartime, Ukraine turned to crypto, raising millions through donations to support humanitarian and defense efforts. Now, the country is looking to solidify its crypto-forward position by launching Europe’s first Bitcoin reserve.

Ukraine follows countries like El Salvador — which holds over 6,000 BTC — and the U.S., which launched a Strategic Bitcoin Reserve in 2025. Brazil is also exploring the idea, and countries like Japan, UAE, and Singapore may follow suit as part of broader financial strategies.