Ukrainian Politician Advocates for Bitcoin Integration into National Economy

Ukrainian politician and former advisor to the Office of the President of Ukraine, Oleksiy Arestovych, has proposed making the leading cryptocurrency a national reserve asset. He shared this suggestion on his Telegram channel.

Arestovych urged for digital gold to become part of the official assets and called for legislative protection of bitcoin, its holders, and transactions involving the first cryptocurrency.

According to Arestovych, Ukraine should purchase BTC as part of its national assets and “integrate the banking system with the bitcoin circulation system.”

“Until the implementation of this entire set of measures, prohibit the persecution of people for working with bitcoin. The spirit of bitcoin is freedom. Freedom is Ukraine’s national idea,” the politician stated.

He also attached a photo from the annual bitcoin conference in Nashville, USA.

In March, the Ukrainian government approved a reform plan under the Ukraine Facility program, which will secure €50 billion from the EU between 2024 and 2027. The document includes provisions on the cryptocurrency market.

In the same month, the IMF postponed the preparation of an updated version of legislation on virtual asset regulation in Ukraine to the end of December 2024. It was initially planned to be presented by the end of June. The development of the regulatory document remains the responsibility of the NBU and the NSSMC.

According to a survey by Gradus Research, 26% of Ukrainians own cryptocurrencies, preferring digital assets over precious metals and bonds.