Brazil’s Parliament to Debate National Bitcoin Reserve as South America Leads Crypto Revolution
The post Brazil’s Parliament to Debate National Bitcoin Reserve as South America Leads Crypto Revolution appeared on BitcoinEthereumNews.com. The proposal could make Brazil one of the first major economies to add Bitcoin to its official treasury reserves. Brazil’s lower house will hold its first public hearing on creating a national Bitcoin reserve on August 20, 2025. The hearing will examine Bill 4501/2024, which suggests putting up to 5% of Brazil’s international reserves into Bitcoin. With Brazil holding about $300 billion in reserves, this could mean a $15 billion Bitcoin investment – one of the largest government crypto purchases in history. Federal Deputy Eros Biondini introduced the bill in November 2024. The proposal aims to protect Brazil’s money against currency problems and global risks while pushing the country ahead in digital finance. The Numbers Behind Brazil’s Bold Move The plan calls for creating the Sovereign Strategic Bitcoin Reserve, known as RESBit. Brazil’s Central Bank and Finance Ministry would manage these Bitcoin holdings together. The government would buy Bitcoin slowly over time, not all at once. Source: www.camara.leg.br The proposal includes strict security rules. Bitcoin would be stored in cold wallets – offline storage that hackers cannot reach. Officials who mismanage the reserve would face criminal charges. If lawmakers approve the bill, the government gets 180 days to set up the program. Pedro Giocondo Guerra, chief of staff to Vice President Geraldo Alckmin, supports the idea. He called Bitcoin “the digital gold” and said debating a Bitcoin reserve helps Brazil’s future wealth. Not everyone agrees. Brazil’s central bank monetary policy director Nilton David thinks adding crypto to the country’s reserves would be wrong. The August 20 hearing will let both sides present their arguments. South America’s Crypto Boom Brazil’s Bitcoin reserve proposal comes as South America becomes a global crypto powerhouse. The region saw 42.5% growth in crypto activity over the past year, making it the world’s second-fastest growing crypto…
The post Brazil’s Parliament to Debate National Bitcoin Reserve as South America Leads Crypto Revolution appeared on BitcoinEthereumNews.com.
The proposal could make Brazil one of the first major economies to add Bitcoin to its official treasury reserves. Brazil’s lower house will hold its first public hearing on creating a national Bitcoin reserve on August 20, 2025. The hearing will examine Bill 4501/2024, which suggests putting up to 5% of Brazil’s international reserves into Bitcoin. With Brazil holding about $300 billion in reserves, this could mean a $15 billion Bitcoin investment – one of the largest government crypto purchases in history. Federal Deputy Eros Biondini introduced the bill in November 2024. The proposal aims to protect Brazil’s money against currency problems and global risks while pushing the country ahead in digital finance. The Numbers Behind Brazil’s Bold Move The plan calls for creating the Sovereign Strategic Bitcoin Reserve, known as RESBit. Brazil’s Central Bank and Finance Ministry would manage these Bitcoin holdings together. The government would buy Bitcoin slowly over time, not all at once. Source: www.camara.leg.br The proposal includes strict security rules. Bitcoin would be stored in cold wallets – offline storage that hackers cannot reach. Officials who mismanage the reserve would face criminal charges. If lawmakers approve the bill, the government gets 180 days to set up the program. Pedro Giocondo Guerra, chief of staff to Vice President Geraldo Alckmin, supports the idea. He called Bitcoin “the digital gold” and said debating a Bitcoin reserve helps Brazil’s future wealth. Not everyone agrees. Brazil’s central bank monetary policy director Nilton David thinks adding crypto to the country’s reserves would be wrong. The August 20 hearing will let both sides present their arguments. South America’s Crypto Boom Brazil’s Bitcoin reserve proposal comes as South America becomes a global crypto powerhouse. The region saw 42.5% growth in crypto activity over the past year, making it the world’s second-fastest growing crypto…
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