Brazil is taking a historic step toward integrating Bitcoin into its national strategy. An updated bill (PL 4501/2024) submitted to the House of Representatives envisages the acquisition of 1 million Bitcoins gradually over five years under the name "Strategic Sovereign Bitcoin Reserve" (RESBit). With this move, Latin America's largest economy aims to diversify its reserves, creating a more resilient structure against currency fluctuations and geopolitical risks, while also strengthening the digital asset ecosystem through innovative regulations such as accepting Bitcoin for tax payments, prohibiting the sale of confiscated BTC, and encouraging state mining. Although the legislative process is still ongoing, if the proposal is passed, Brazil could become the largest economy since El Salvador to adopt Bitcoin as a national reserve asset, opening a new chapter in global crypto adoption.
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Brazil is taking a historic step toward integrating Bitcoin into its national strategy. An updated bill (PL 4501/2024) submitted to the House of Representatives envisages the acquisition of 1 million Bitcoins gradually over five years under the name "Strategic Sovereign Bitcoin Reserve" (RESBit). With this move, Latin America's largest economy aims to diversify its reserves, creating a more resilient structure against currency fluctuations and geopolitical risks, while also strengthening the digital asset ecosystem through innovative regulations such as accepting Bitcoin for tax payments, prohibiting the sale of confiscated BTC, and encouraging state mining. Although the legislative process is still ongoing, if the proposal is passed, Brazil could become the largest economy since El Salvador to adopt Bitcoin as a national reserve asset, opening a new chapter in global crypto adoption.