Brazil’s Bitcoin Reserve Bill Passes First Committee

Odaily News Brazil's Bitcoin Reserve Bill "PL 4501/2023 or PL 4501/2024" has passed the first committee for review. The bill proposes the establishment of a "sovereign strategic Bitcoin reserve" and the allocation of 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 Guara, chief of staff to the Brazilian vice president, said in March that the "strategic sovereign Bitcoin reserve" is vital to national prosperity and is a matter of public interest, calling Bitcoin "gold on the Internet." (Bitcoin News)