- A new bill in Brazil proposes the creation of a strategic Bitcoin reserve, called RESBit, managed by the central bank and finance ministry.
- Up to 5% of Brazil’s international reserves could be invested in Bitcoin, aiming for diversification and protection against geopolitical risks.
Brazil is taking a bold step into the digital financial future. Congressman Eros Biondini has introduced a bill proposing the establishment of RESBit, a national Bitcoin reserve. This initiative seeks to diversify Brazil’s financial assets, protect international reserves from currency fluctuations and geopolitical risks, and drive blockchain adoption across public and private sectors.
RESBit’s Objectives and Governance
RESBit would allocate up to 5% of Brazil’s international reserves to Bitcoin, following global trends. Inspired by international examples, the reserve aims to secure financial sovereignty while fostering education and innovation in cryptocurrency technologies.
Oversight would rest with the Brazilian central bank and finance ministry, tasked with developing robust systems to safeguard digital assets against cyber threats, fraud, and unauthorized access.
Additionally, the proposal includes creating an expert advisory committee focused on digital security to guide decisions related to the Bitcoin reserve. Strict management and accountability mechanisms are also outlined, including penalties for misuse.
A Global and National Trend
The initiative mirrors global movements toward Bitcoin adoption as a strategic reserve asset. Similar efforts in other countries and among corporations underline its growing acceptance.
Brazil, ranked tenth globally in cryptocurrency adoption by Chainalysis, is poised to leverage its active participation in the crypto ecosystem, strengthening its global standing in financial and technological innovation.
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