Brazil's Bitcoin Reserve Bill has been reviewed by the First Committee
The Internet reported that Brazil's Bitcoin Reserve Bill "PL 4501/2023 or PL 4501/2024" has been reviewed by the First Committee. The bill proposes to establish a "sovereign strategic Bitcoin reserve" and allocate up to 5% of foreign exchange reserves to Bitcoin. Once implemented, Brazil will become the second Latin American country after El Salvador to establish legal BTC reserves. Pedro Giocondo Guara, chief of staff to the Brazilian Vice President, said in March that "strategic sovereign Bitcoin reserves" are crucial to national prosperity and are a matter of public interest, calling Bitcoin "the gold on the Internet."
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