Brazil will hold a public hearing on August 20 to discuss a national Bitcoin reserve proposal.
The proposed bill allows up to 5% of Brazil's reserves to be held in Bitcoin through cold wallet storage.
The reserve plan includes blockchain education startup incentives and possible backing for Brazil's digital currency.
Brazil’s Chamber of Deputies has scheduled a public hearing for August 20, 2025. The session will focus on Bill 4501/2024, which proposes the creation of a Sovereign Strategic Bitcoin Reserve, or RESBit. The Economic Development Committee will host the hearing, following a request from Federal Deputy Luiz Philippe de Orleans e Bragança.
https://twitter.com/coinspeaker/status/1952913619529953725
The proposed bill would allow Brazil’s federal government to purchase Bitcoin gradually as part of its official foreign asset holdings. RESBit assets would be limited to 5% of the country’s international reserves. Based on the central bank’s reported reserves in February, this would amount to roughly $15 billion.
The bill will also diversify reserves and reduce exposure to currency volatility. The proposal also highlights the potential for Bitcoin to support innovation and long-term economic planning.
Institutions to Join Key Policy Discussion
At least six institutions are expected to participate in the hearing. Confirmed attendees include Diego Kolling of Méliuz and Rubens Sardenberg from FEBRABAN. The Economic Development Commission is still awaiting responses from additional entities.
Invitations were sent to representatives from the Central Bank, Ministry of Finance, and Ministry of Development, Industry, Commerce and Services. Crypto advocacy groups and fintech sector participants are also expected to contribute to the discussion.
The bill outlines that the Central Bank and Ministry of Finance would oversee reserve management. Their responsibilities would include asset custody, risk monitoring, and formal reporting. All Bitcoin holdings would use cold storage infrastructure that complies with international security standards.
Broader Goals Include Blockchain Integration
Beyond financial reserve diversification, the proposal also encourages the integration of blockchain into Brazil’s economy. The bill includes support for public-private partnerships and incentives for startups in the blockchain space.
It also proposes adding crypto and distributed ledger technology to Brazil’s educational and research systems. This includes university curriculum development and innovation grants. Officials also plan to explore using the reserve as backing for the country’s central bank digital currency, Drex.
Management of the reserve would be subject to strict oversight. Officials found misusing funds could face criminal or administrative penalties. The bill also includes a clause requiring government regulation within 180 days if passed.
Legislative Path Outlined for Bill Approval
The bill would pass to the Senate if approved in the Chamber of Deputies. The Senate would conduct its own committee analysis before holding a full vote. If the bill passes without amendments, it would proceed to the president for signing. Any changes would return the bill to the lower house for a final vote. The senate was also to review new legislation that was aimed at overseeing digital assets.
