Brazil to hold a public hearing on August 20 to discuss creating a Strategic Bitcoin Reserve
The post Brazil to hold a public hearing on August 20 to discuss creating a Strategic Bitcoin Reserve appeared on BitcoinEthereumNews.com. The first official Brazilian debate on whether a Strategic Bitcoin Reserve should be established will be held on August 20, 2025. This hearing will be held in the Chamber of Deputies in Brasilia’s capital. It will address Bill 4.501/2024, which suggests the addition of Bitcoin to the national reserve, which will be under state jurisdiction. “Requests the holding of a public hearing with the objective of debating PL 4501/2024, which provides for the formation of a Sovereign Strategic Reserve of Bitcoins by the Federal Government and provides other measures.” Federal deputy Luiz Philippe de Orleans e Bragança The proposal was first introduced by Deputy Eros Biondini in November 2024 and was subsequently posted to the Economic Development Commission. Deputy Luiz Philippe de Orleans e Braganca had called the hearing publicly later in June, and this is now to be met by the scheduled session on August 20. The bill demands that the Brazilian Treasury begin diversifying its asset holdings by purchasing Bitcoin (BTC) and other cryptoassets that are considered secure. The event will be open to experts and the public, giving key figures a platform to present their views on the potential benefits of holding Bitcoin in government reserves. Brazil, the ninth-biggest economy in the world, has a foreign exchange reserve of nearly $341 billion. If this bill is passed, 5% of these reserves, or $17 billion, will be channeled into Bitcoin. This would make Brazil the world’s largest holder of Bitcoin reserves, replacing countries such as El Salvador, the U.K., and Bhutan. Brazil’s move to discuss Bitcoin integration aligns with its growing commitment to digital assets. In June 2023, the country implemented a legal framework that empowers its central bank to regulate and oversee virtual asset service providers. The new framework also clarifies the Securities and Exchange Commission’s authority…
The post Brazil to hold a public hearing on August 20 to discuss creating a Strategic Bitcoin Reserve appeared on BitcoinEthereumNews.com.
The first official Brazilian debate on whether a Strategic Bitcoin Reserve should be established will be held on August 20, 2025. This hearing will be held in the Chamber of Deputies in Brasilia’s capital. It will address Bill 4.501/2024, which suggests the addition of Bitcoin to the national reserve, which will be under state jurisdiction. “Requests the holding of a public hearing with the objective of debating PL 4501/2024, which provides for the formation of a Sovereign Strategic Reserve of Bitcoins by the Federal Government and provides other measures.” Federal deputy Luiz Philippe de Orleans e Bragança The proposal was first introduced by Deputy Eros Biondini in November 2024 and was subsequently posted to the Economic Development Commission. Deputy Luiz Philippe de Orleans e Braganca had called the hearing publicly later in June, and this is now to be met by the scheduled session on August 20. The bill demands that the Brazilian Treasury begin diversifying its asset holdings by purchasing Bitcoin (BTC) and other cryptoassets that are considered secure. The event will be open to experts and the public, giving key figures a platform to present their views on the potential benefits of holding Bitcoin in government reserves. Brazil, the ninth-biggest economy in the world, has a foreign exchange reserve of nearly $341 billion. If this bill is passed, 5% of these reserves, or $17 billion, will be channeled into Bitcoin. This would make Brazil the world’s largest holder of Bitcoin reserves, replacing countries such as El Salvador, the U.K., and Bhutan. Brazil’s move to discuss Bitcoin integration aligns with its growing commitment to digital assets. In June 2023, the country implemented a legal framework that empowers its central bank to regulate and oversee virtual asset service providers. The new framework also clarifies the Securities and Exchange Commission’s authority…
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