Brazil Proposes National Bitcoin Reserve, Targets 1 Million BTC Over Five Years

Brazilian lawmakers have proposed a bill to create a national Strategic Sovereign Bitcoin Reserve, named RESBit, with the goal of gradually acquiring 1,000,000 BTC over five years. The legislation, introduced by Federal Deputy Luiz Gastão, outlines a framework for integrating Bitcoin into national financial strategy, including prohibiting the sale of judicially seized bitcoins and allowing federal taxes to be paid in Bitcoin. The proposal also incentivizes public companies for Bitcoin mining and storage, mandates public disclosure of holdings, and requires secure storage using technologies like cold and multisignature wallets. If approved, Brazil would join a select group of nations holding national Bitcoin reserves. This move follows similar explorations by countries like El Salvador, the US (at state and federal levels), the Czech National Bank, and others considering national frameworks for digital asset reserves.

(Source：Bitcoin Magazine)