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Brazil's "Sovereign Strategic Bitcoin Reserve" bill passes first committee review
2025-06-17 21:41
BlockBeats News, June 17, according to Bitcoin News, the Brazilian Bitcoin Reserve Bill "PL 4501/2023 or PL 4501/2024" has passed its first committee review. The bill proposes the establishment of a "Sovereign Strategic Bitcoin Reserve," allocating up to 5% of foreign exchange reserves to Bitcoin. Once implemented, Brazil will become the second Latin American country, after El Salvador, to establish a legal BTC reserve.
Pedro Giocondo Guará, Chief of Staff to Brazil’s Vice President, stated in March that the "Sovereign Strategic Bitcoin Reserve" is crucial to national prosperity and is a matter of public interest. He referred to Bitcoin as "the gold of the internet."
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