The Economic Development Commission of Brazil’s Chamber of Deputies is scheduled to convene a public hearing on August 20, 2025, to discuss a proposition for a Bitcoin Strategic Reserve (RESBit) with a potential value of $18.6 billion. Deputy Luiz Philippe de Orleans e Bragança requested the session to solicit insights from relevant entities. The hearing will focus on Bill 4501/2024, gathering technical and strategic perspectives from
financial institutions, government bodies, and specialists within the sector regarding its implications. The core aim of the bill is to modernize Brazilian treasury practices and broaden the scope of sovereign asset holdings by allocating up to 5% of international reserves to
Bitcoin, a strategic move designed to offer protection against fluctuations in currency values and geopolitical uncertainties.
This proposed law has sparked comparisons to blockchain initiatives pursued by other nations, including El Salvador, the United States, and the European Union. According to the proposal, the Central Bank of Brazil and the Finance Ministry would jointly oversee the reserve, with mandatory bi-annual evaluations of performance and associated risks. This framework places significant emphasis on regulatory oversight and transparency, designed to mitigate potential concerns regarding the handling of digital assets within a national context.
Brazil has risen to prominence as a leading cryptocurrency market in Latin America and holds the 10th position globally in terms of cryptocurrency usage, according to Chainalysis’ 2024 Geography of Crypto report. In 2024, the nation processed approximately $76 billion in
digital asset transactions, according to reports from the Brazilian tax authority. This considerable level of participation in cryptocurrencies underscores the nation’s increasing acceptance of digital assets and signals a potential preparedness to integrate them into sovereign financial strategies.
The scheduled hearing on August 20 will feature contributions from Diego Kolling, Bitcoin strategy head at Méliuz, and Julia Rosim, who serves as the ABcripto policy working group coordinator and head of public policy at Bitso. These professionals, along with representatives from the Central Bank and Ministry of Finance, will provide pivotal insights into the viability and potential risks associated with the RESBit initiative. Deputy Bragança has stressed the importance of Central Bank input prior to any committee reviews, considering it to be an essential step in refining the proposed legislation.
Following this initial hearing, the bill will progress through a comprehensive approval procedure. It must first secure passage through four legislative committees – Economic Development, Science and Technology, Finance and Taxation, and Constitution and Citizenship – before it is presented for a full vote in the Chamber. If successful, it will then be forwarded to the Senate for final approval. If enacted, the law would mark a considerable change in Brazil’s approach to managing financial reserves and could have a ripple effect on policy developments throughout Latin America.
This initiative has triggered a spectrum of opinions within Brazil’s financial sector. Certain figures, like Pedro Giocondo Guerra, have voiced their support for the idea, likening Bitcoin to “digital gold,” while others, such as Nilton David from the Central Bank, have raised doubts regarding the practicality of incorporating cryptocurrency into national reserves. The bill includes security measures, such as cold storage for Bitcoin holdings and penalties for improper management, intended to address these reservations and ensure accountability.
Source:
[1] Brazil to hold first hearing on proposed $19 billion Bitcoin reserve (https://cryptoslate.com/brazil-to-hold-first-hearing-on-proposed-19-billion-bitcoin-strategic-reserve/)
[2] Brazil Considers $19B Bitcoin Strategic Reserve Legislation (https://bitbo.io/news/brazil-bitcoin-reserve-hearing/)
[3] Brazil to Hold Hearing on $18.6 Billion Bitcoin Reserve Proposal (https://cryptodnes.bg/en/brazil-to-hold-hearing-on-18-6-billion-bitcoin-reserve-proposal/)
[4] Brazil Debates $19 Billion Bitcoin Strategic Reserve (https://99bitcoins.com/news/bitcoin-btc/brazil-debates-19-billion-bitcoin-strategic-reserve/)
[5] Brazil Sets Historic Bitcoin Reserve Hearing as South America Leads Crypto Revolution (https://en.mercopress.com/2025/08/19/brazil-sets-historic-bitcoin-reserve-hearing-as-south-america-leads-crypto-revolution)
[6] Brazil to Hold First Hearing on Establishing a National Strategic Bitcoin Reserve Tomorrow (https://www.bitget.com/news/detail/12560604918966)