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13.02.26 - 21:54
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Brazil Proposes National Bitcoin Reserve, Targets 1 Million BTC Over Five Years (ZeroHedge)
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Brazil Proposes National Bitcoin Reserve, Targets 1 Million BTC Over Five Years
Authored by Micah Zimmerman via BitcoinMagazine.com,
Brazilian lawmakers have reintroduced a bill to create a national Strategic Sovereign Bitcoin Reserve, known as RESBit, proposing the gradual acquisition of one million bitcoins over five years.
The bill, presented by Federal Deputy Luiz Gastão (PSD/CE), outlines a comprehensive framework to integrate Bitcoin into the country's financial strategy and diversify national reserves.
The proposed legislation establishes several guidelines for RESBit.
First, the plan calls for a gradual accumulation of at least 1,000,000 BTC over five years.
It prohibits the sale of bitcoins seized by Brazilian judicial authorities, ensuring that these assets remain within public control.
The bill also allows for the collection of Brazil's federal taxes in Bitcoin and offers incentives for public companies to engage in Bitcoin mining and storage.
Transparency is a central fea...
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