according to the materials from the site - By ETHNews


Public hearings on Bill PL 01/2025 to create a sovereign strategic Bitcoin reserve (RESBit) have opened in Brazil. The proposal will allow up to 5% of national reserves — about 17 billion US dollars — to be allocated, subject to Congressional approval. Legislators have presented a structure that separates RESBit from Brazil's international reserves and transfers management to the National Treasury.

After the meeting of the Economic Development Committee of the Chamber of Deputies on August 20, the text moves on to additional checks in the areas of science and innovation, finance and taxation, as well as constitution and justice.

A technical committee composed of representatives from the Central Bank and the Ministry of Finance will oversee the storage of cryptocurrency in cold wallets and conduct semi-annual audits. The bill also provides for the funding of RESBit through confiscated bitcoins to prevent budgetary expenditures.

Proponents of the bill point to the growing use of RESBit within the country. According to ETHNews, over 25 million Brazilians invest in digital assets. Diego Colling from Melios compared the strategic role of Bitcoin to an invention adopted out of necessity and stated that waiting increases the cost of entry due to the fixed supply of BTC at 21 million. Meanwhile, supporters warn that international funds and governments may accumulate cryptocurrency faster, forcing Brazil to buy it later at higher prices.
However, officials have expressed caution. Ministry of Finance representative Daniel Lil stated that the volatility of BTC requires much greater fiscal efforts than stable assets. Moreover, representatives of the Central Bank noted the IMF's classification of Bitcoin as a non-financial asset, which does not align with traditional reserve mandates. Therefore, several legislators approved the format of a sovereign fund — outside official reserves — to limit risk while testing use cases.
Additionally, the bill establishes governance principles based on transparency: cold storage, clear lines of accountability, and periodic audits. As a result, the debate has shifted from ideology to mechanisms — what to buy, how to hold, and when to rebalance. However, the main question remains open: should Brazil consider Bitcoin a strategic asset, similar to a commodity reserve?

Currently, the RESBit bill is going through committees. If the bill is approved by both chambers, its implementation will depend on the readiness of the depository, audit procedures, and market liquidity at the time of purchase.

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