According to Bitcoin News, Brazil's Bitcoin Reserve Bill 4501/2023 has crossed the first committee review stage. The bill proposes the creation of a "RESBiT" mechanism, which plans to use up to 5% of Brazil's foreign exchange reserves for Bitcoin allocation. Once the bill is finally passed, Brazil will become the second country in Latin America after El Salvador to establish a fiat bitcoin reserve.
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BTCHighYieldSuperStableTrading
· 9h ago
BTC is going all in, watch me go all in with BTC, achieving financial freedom.
The Brazilian Bitcoin Reserve Bill passed its first committee review.
According to Bitcoin News, Brazil's Bitcoin Reserve Bill 4501/2023 has crossed the first committee review stage. The bill proposes the creation of a "RESBiT" mechanism, which plans to use up to 5% of Brazil's foreign exchange reserves for Bitcoin allocation. Once the bill is finally passed, Brazil will become the second country in Latin America after El Salvador to establish a fiat bitcoin reserve.
Source: Wu Says, Bitcoin News
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