Brazil's' Sovereign Strategic Bitcoin Reserve 'Bill Passes First Committee Review

2025-06-17 13:41

BlockBeats news, on June 17th, according to Bitcoin News, the Brazilian Bitcoin Reserve Act "4501/2023" has been reviewed by the First Committee. The bill proposes to establish a "sovereign strategic Bitcoin reserve" and allocate up to 5% of foreign exchange reserves to Bitcoin. Once implemented, Brazil will become the second Latin American country after El Salvador to establish legal BTC reserves. Pedro Giocondo Guara, Chief of Staff of the Vice President of Brazil, said in March that "strategic sovereign Bitcoin reserve" is crucial to national prosperity and is a public interest issue. He called Bitcoin "the gold on the Internet".

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