Brazil’s Chamber of Deputies has approved the Strategic Bitcoin Reserve Bill (Projeto de Lei No. 4.501/2024) in its first committee vote, proposing the inclusion of Bitcoin in the country’s sovereign reserves. The landmark legislation positions Bitcoin as a government-held strategic asset, marking a pivotal shift in national financial strategy.
Deputy Eros Biondini, championing the bill, emphasized its role in diversifying Brazil’s reserves against global economic volatility. He highlighted Bitcoin’s potential as an inflation hedge and tool for enhancing economic resilience amid worldwide financial uncertainties.
The bill establishes comprehensive regulatory frameworks for secure custody and governance mechanisms, directly addressing concerns regarding Bitcoin’s price volatility, security protocols, and compliance requirements. These provisions aim to ensure institutional-grade asset management standards.
If enacted, Brazil would become Latin America’s first major economy to officially hold Bitcoin in sovereign reserves, setting a regional precedent. This move aligns with a growing global trend of nations exploring cryptocurrency integration for monetary diversification and strategic treasury management.