Brazil’s House of Representatives will conduct a hearing on August 20 to evaluate a bill proposing the creation of a national Bitcoin reserve.
The proposed legislation would permit up to 5% of the national treasury—approximately $15 billion—to be invested in Bitcoin.
The hearing will involve major institutions, including the Central Bank of Brazil, the Ministry of Finance, fintech firms, and crypto advocates.
The bill argues that a Bitcoin reserve could protect Brazil’s international assets from exchange rate fluctuations and geopolitical turmoil while encouraging blockchain adoption across sectors.
Introduced in November 2024, the bill would proceed to the Senate if passed in the lower house.
President Lula da Silva would have the final say to sign or veto the law.
Public reaction has been mixed. Some support the move as forward-thinking, while others warn of Bitcoin’s volatility.
Still, the discussion reflects Brazil’s increasing focus on digital asset strategies.
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