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Brazil considers establishing a national Bitcoin reserve fund

According to PANews, a legislative proposal known as Bill PL 4501/2023, introduced by Brazilian Federal Deputy Eros Biondini, has received positive feedback from the Economic Development Committee of the country's House of Representatives. The bill proposes the creation of a national Bitcoin reserve fund, called 'RESBit', allowing up to 5% of Brazil's foreign exchange reserves to be allocated to Bitcoin.