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Brazil Hosts Hearing on Sovereign Strategic Reserve of Bitcoins on August 20
On August 20, the Economic Development Committee of the Brazilian House of Representatives will hold a public hearing to discuss the proposed "Sovereign Strategic Reserve of Bitcoins" by the Federal Government.
- The hearing is convened under Requirement 39/2025, authored by Representative Luiz Philippe de Orleans e Bragança.
- The related bill, PL 4501/2024, is currently under review and aims to improve the proposal.
- Bragança emphasizes the need for technical input from monetary authorities to enhance the legislation.
- Only two of six invited experts have confirmed attendance, including Rubens Sardenberg from FEBRABAN.
- Unconfirmed guests include representatives from Abcripto, the Central Bank of Brazil, and the Ministry of Finance.
Sovereign Strategic Reserve of Bitcoins Bill (PL 4501/2024)
- Proposed by Eros Biondini on November 25, 2024.
- Aims to diversify National Treasury assets and mitigate risks from exchange rate fluctuations.
- Seeks to promote blockchain technology in various sectors.
The public hearing may provide insights for lawmakers, though the decision on implementing the reserve remains pending.
Authors credited by the source: Vini Barbosa
Published by Holder based on an external source.
