Ukraine has been under considerable political pressure in the wake of recent tensions with Russia. However, amidst such turmoil, the country is still seeking to take steps to enhance its financial standing and establish a new cryptocurrency reserve.
According to reports, around eight deputies of the Ukrainian parliament have submitted a bill to authorize the country’s first national bank to include crypto assets as credible financial assets. The bill was submitted on Tuesday, and this could mark a new beginning for the country.
Ukraine’s Crypto Stance
The principal sponsor of the bill, Yaroslav Zheleznyak, the deputy chairman of the Committee on Finance, Tax and Customs Policy, believes that this is a necessary move to bolster the nation’s financial institutions.
In a post on Telegram, Zheleznyak wrote, “step [to] integrate Ukraine into global financial innovations… Proper management of crypto reserves will help strengthen macroeconomic stability and create new opportunities for the development of the digital economy.”
However, Zheleznyak did accept that if the policy were to become law, it would not impose responsibility on the Ukrainian Central Bank. It is merely keeping the door open for the central bank to take advantage.
Therefore, this bill positions Ukraine as a major player in the European arena. Hence, this bill could be a significant chapter in the history that needs to be observed closely.
