Brazil's Bitcoin Reserve Bill (RESBiT) has passed the first committee review. Once implemented, Brazil will become the second Latin American country to establish a legal Bitcoin reserve after El Salvador.
Brazil Bitcoin Reserve Bill
The Brazil RESBit Bill (officially named PL 4501/2024) is the country's pioneering legislative attempt to include Bitcoin in its sovereign reserves on a global scale. The proposal was introduced by Congressman Eros Biondini on November 25, 2024, aiming to address global economic uncertainty, currency fluctuations, and geopolitical risks.
According to the bill's content, it will allow the Brazilian Central Bank and the Ministry of Finance to invest up to 5% of foreign exchange reserves (approximately $1.775 billion out of $35.5 billion) in Bitcoin, under the joint supervision of the Central Bank and the Ministry of Finance, utilizing artificial intelligence and blockchain technology to design a monitoring system that ensures transparency and security.
If approved, Brazil will become the first G20 country to include Bitcoin in its sovereign reserves, potentially amounting to $17.75 billion, further advancing the legitimacy of cryptocurrencies globally.
(RESBit Bill) Legislative Process
According to Bitcoin News, the (RESBit Bill) has passed the first committee review.
NEW: Brazil's Bitcoin Reserve Bill 4501/2023, proposing "RESBiT" to allocate up to 5% of foreign exchange reserves to Bitcoin, passes its first committee. If implemented, Brazil would be the second LATAM country after El Salvador to establish a legal BTC reserve. pic.twitter.com/c3DYsqlzvl
— Bitcoin News (@BitcoinNewsCom) June 17, 2025
This means that the bill has received preliminary approval, but there is still a long way to go before it officially becomes law. After passing the first committee review, it must be submitted sequentially to other committees (at least three committees must approve it), and then finally voted on by the full House of Representatives. If passed by the House, the bill will move to the Senate for a similar procedure, after which it will be decided by the President whether to sign or veto it.
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