Brazil to hold first hearing on proposed $19 billion Bitcoin Strategic Reserve
Brazil’s Chamber of Deputies Economic Development Commission will hold its first hearing on Aug. 20 to examine a proposal to establish a Bitcoin Strategic Reserve (RESBit) worth up to $18.6 billion.
As Agência Câmara de Notícias reported, the 3 P.M. ET session will gather technical perspectives on Bill 4501/24, which seeks to modernize Brazil’s treasury management and enhance competitiveness in the global digital economy.
Deputy Luiz Philippe de Orleans e Bragança requested the hearing to collect expert analysis from government agencies and financial institutions regarding the RESBit proposal.
The legislation aims to diversify Brazil’s Treasury assets and protect international reserves against exchange rate fluctuations and geopolitical risks.
Confirmed speakers include Diego Kolling, head of Bitcoin strategy at Méliuz, and Julia Rosim, ABcripto policy working group coordinator and Bitso head of public policy.
Legislative framework and market context
Lawmaker Eros Biondini introduced the legislation, citing successful blockchain integration by countries including El Salvador, the United States, China, Dubai, and the European Union.
The bill assigns custody responsibilities to Brazil’s Central Bank and Finance Ministry and requires biannual reports on RESBit performance and risk assessments.
Brazil leads Latin America in crypto adoption and ranks 10th globally according to Chainalysis’ Geography of Crypto report 2024.
According to Brazilian tax authority data, the country traded nearly $76 billion in crypto last year.
The proposal positions Brazil among nations exploring digital asset reserves as hedges against traditional currency.
Committee review process and approval requirements
Following the hearing on Aug. 20, the proposal enters conclusive analysis by four Chamber committees: Economic Development, Science Technology and Innovation, Finance and Taxation, and Constitution Justice and Citizenship.
Each committee must approve the legislation before advancing to full Chamber consideration.
The bill requires approval from both the Chamber of Deputies and the Senate to become law, establishing a comprehensive legislative review process for the Bitcoin reserve proposal.
Technical input from the hearing will inform committee evaluations and potential text modifications during the review phases.
Orleans e Bragança seeks perspectives from monetary authorities, government officials, banking system representatives, and subject matter experts to refine the proposal text.
The deputy noted the importance of collecting Central Bank technical analysis before committee markup sessions begin to perfect the legislation.
The post Brazil to hold first hearing on proposed $19 billion Bitcoin Strategic Reserve appeared first on CryptoSlate.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
How much CPO demand will Nvidia Rubin Ultra generate? Bernstein: Optical value per Pod will increase fivefold
Bernstein believes that the co-packaged optics (CPO) and fiber demand driven by Nvidia's Rubin Ultra architecture will surge significantly, with the optical content per Pod rising from $1 million to $5.4 million. This will propel the size of Nvidia's optical ecosystem market to $46.8 billion by 2028 (a 91% annual increase). Although the industry faces supply bottlenecks with InP substrates, the outlook remains positive. The institution reiterates its “outperform” rating for Lumentum, Coherent, and Ciena.
UBS Q3 implements a two-way strategy with gold options, heavily invests in technology stocks, and builds positions in SK Hynix (SKHY.US)
UBS Group (UBS.US) has submitted its Q3 holdings report (13F) as of September 30, 2026.
SpaceX (SPCX.US) reportedly attempts “de-Nvidiaization” at the rack level: developing Kessel cabinets to bypass L6 compute boards, purchasing only chips
SemiAnalysis: SpaceX has developed its own Kessel cabinet, bypassing Nvidia's L6 cards to provide more options for manufacturing its own hardware.
$3.7 billion “data center power equipment prepayments” abandoned! What did "the most active buyer of gas turbines", SoftBank, see?
In the second quarter of fiscal year 2026, SoftBank reported a net loss of $7.1 billion, primarily due to a $3.7 billion impairment charge from a $9.5 billion advance payment for power generation equipment for US data centers—of which about $2.9 billion was non-refundable and effectively lost. The CFO admitted that SoftBank placed orders before the project plan was finalized, and is now conducting a comprehensive review of its procurement strategy. "The most aggressive purchaser of gas turbines has now written off the deposit in this way."
Crypto prices
More
