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Ukraine Lawmakers Introduce Historic Bill For Establishment Of Crypto Asset Reserve
- Ukrainian lawmakers introduced a bill to allow the National Bank to include cryptocurrencies like Bitcoin in the country's reserve.
- The draft bill proposes amendments to the law 'On the National Bank of Ukraine' to add crypto assets to traditional reserves.
- Yaroslav Zheleznyak, a lawmaker behind the bill, sees it as a step towards integrating Ukraine into global financial innovations.
- The National Bank of Ukraine would have full control over the decision to allocate reserves to crypto if the bill passes.
- The bill does not mandate acquiring crypto for reserves but provides the option to do so.
- Creating a crypto reserve is expected to strengthen macroeconomic stability and boost the digital economy in Ukraine.
- Ukraine currently holds 46,351 BTC, valued at over $5 billion, trailing behind the U.S., China, and the U.K. in crypto holdings.
- Several countries, including El Salvador and the U.S., have been active in establishing crypto reserves for economic purposes.
- This move is part of a global trend with countries like the Czech Republic, Brazil, and Pakistan also considering digital asset integration.
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