TechFlow news, on June 12, the Brazilian Chamber of Deputies is reviewing Bill No. 4501 of 2024, which proposes establishing a Bitcoin sovereign strategic reserve (RESBit), planning to allocate up to 5% of international reserves to purchase Bitcoin. The bill aims to diversify treasury assets, hedge against exchange rate fluctuations and geopolitical risks, promote blockchain technology development, and support Brazil's digital currency (Drex). The reserve will be jointly managed by the Central Bank and the Ministry of Finance, using secure technologies such as cold wallets, and establishing strict transparency mechanisms. Rapporteur Congressman Luiz Gastão has voted in favor of the bill, emphasizing a cautious, incremental implementation strategy to balance potential benefits and risks.
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