Brazil Vice President Geraldo Alckmin (PSB) Chief of General Staff Pedro Giocondo Guerra underlined the importance of establishing a national strategic Bitcoin reserve on Wednesday. Guerra I’m talking At the blasphemy ceremony of the new president of the FPBC (Parliament for the competitive Brazil), Júlio Lopes (PP-RJ) represents the government of President Luiz Inácio Lula da Silva (PT).
“It will be decisive for the public interest and prosperity to discuss the constitution of a sovereign reserve of Bitcoin value. After all, Bitcoin digital gold is under the Internet.
Will Brazil get a strategic Bitcoin reserve?
His statements emphasized Bitcoin’s internal charm – especially the digital scarcity and deflationist design, unlike Fiat currencies that can be printed at any time. Guerra, an official BTC reserve, especially in the midst of global economic and geopolitical fluctuations can support the flexibility and adaptability of the country, he said.
In particular, the Congress Member Eros Bondini (PL-MG) introduced PL 4501/2024, which will allow the creation of a dominant strategic Bitcoin reserve that refers to the reference on the invoice. According to Bondini, the primary aim is to diversify the government’s international reserves and protect Brazil against fluctuations and geopolitical uncertainties.
The text proposes a limit of 5% of the country’s international reserves for Bitcoin purchases in December, a total of $ 366 billion in December. If it passes, Brazil would have the authority to invest up to $ 18.3 billion in Bitcoin based on the valuation of the reserve at the time of the bill.
The invoice, which is currently examined by Rapporteur Luiz Gastão (PSD-CC) at the Lower House’s Economic Development Committee, produces instructions for gradual acquisition and emphasizes solid security measures by using cold wallets and advanced AI and block chain-based monitoring.
Legislation, the Central Bank and the Ministry of Finance, how to manage how to manage jointly, both the public and Congress provides transparency through reports every two years. In addition, Metin deals with the need for educational and innovation programs, including incentives such as tax advantages such as tax advantages such as Blockchain, Crypto-Economics and Cyber Safety and Tax Advantages for Crypts.
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A technical advisory committee consisting of Blockchain, digital economy and cyber security experts will also be established to provide meticulous surveillance and encourage cooperation with international regulators and research institutions. The proposal talks about global premises such as El Salvador’s adoption of Bitcoin as a legal tender, the US’s approval of the US BTC ETFs, China’s investment in Blockchain and digital money efforts, Dubai’s success in developing a blockchain -friendly business environment, and the EU’s regulatory frame for digital assets.
The bill argues that Brazil is one of the countries with the highest crypto currency rate in the justification section, but the government policy did not keep up with the rapid evolution of this market.
According to the text, “The creation of Resbit will allow Brazil to diversify international reserves, increase economic flexibility and reduce exposure to foreign exchange fluctuations and geopolitical risks. This measure will also position Brazil as a regional leader in financial and technological innovation, attract foreign investments and strengthen our existence in the digital economy.
The press was traded at $ 86.205 at the time of the press.
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