Bitcoin News Today: Brazil to Hold Hearing on Proposed $15 Billion Bitcoin Reserve

Brazil’s Chamber of Deputies has scheduled a public hearing for August 20, 2025, to examine Bill 4501/2024, which proposes the creation of a Sovereign Strategic Bitcoin Reserve, or RESBit [10]. The initiative, introduced by Federal Deputy Luiz Philippe de Orleans e Bragança, seeks to allow up to 5% of Brazil’s international reserves to be held in Bitcoin via secure cold storage [1]. The bill also outlines the potential for using these reserves to support the country’s central bank digital currency, Drex, and to strengthen national economic planning [10]. If implemented, the reserve would amount to approximately $15 billion, based on the country’s reported reserves in February [1].

The proposed reserve is part of a broader effort to diversify Brazil’s official assets and reduce exposure to currency volatility [10]. The bill also emphasizes the integration of blockchain technology into the national economy, including support for blockchain startups and public-private partnerships [1]. Educational and research initiatives, such as incorporating crypto and distributed ledger technology into university curricula, are also part of the plan [1].

A diverse group of participants is expected at the hearing, including representatives from the Central Bank, Ministry of Finance, and the Ministry of Development, Industry, Commerce, and Services [10]. Private sector figures such as Diego Kolling of Méliuz and Rubens Sardenberg from FEBRABAN have been confirmed to attend [10]. The bill outlines strict oversight mechanisms, including criminal penalties for misuse of funds and a requirement for government regulation within 180 days of passage [1].

If the bill is approved in the Chamber of Deputies, it will move to the Senate for further analysis and a potential full vote [10]. The process could include amendments, which would require a return to the lower house for final approval before the bill reaches the president for signing. The hearing does not guarantee legislative success, but it marks a critical step in evaluating Bitcoin’s role as a strategic reserve asset in Brazil [10]. The outcome could influence not only Brazil’s financial strategy but also broader discussions in Latin America and other developing economies [10].

The August 20 hearing is expected to shape the future of Brazil’s monetary policy and its approach to digital assets. The discussions will bring together policymakers, financial institutions, and industry leaders to explore the implications of a Bitcoin-backed reserve system, potentially setting a precedent for sovereign digital asset management [10].

Source:

[1] title: Brazil Sets August Hearing for National Bitcoin Reserve

url: https://cointelegraph.com/news/brazil-lower-house-hold-hearing-national-bitcoin-reserve

[2] title: Brazil to Discuss 'Sovereign Strategic Reserve of Bitcoins

url: https://www.coinspeaker.com/brazil-to-discuss-sovereign-strategic-reserve-of-bitcoin-crypto

[3] title: Brazil Weighs National Bitcoin Reserve Proposal

url: https://coinpaper.com/10372/brazil-weighs-national-bitcoin-reserve-proposal

[10] title: Brazil Eyes Bitcoin Reserves: Key Congress Hearing Set for August 20

url: https://coincentral.com/brazil-eyes-bitcoin-for-national-reserves-public-hearing-set-for-august-20/

[12] title: Brazil's lower house to hold hearing on creating national

url: https://www.xt.com/en/blog/post/brazils-lower-house-to-hold-hearing-on-creating-national-bitcoin-reserve