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The Brazilian "Sovereign Strategic Bitcoin Reserve" bill passed the first committee review.
On June 17, according to Bitcoin News, Brazil’s Bitcoin Reserve Bill “4501/2023” has been considered by the First Committee, which proposes to establish a “sovereign strategic Bitcoin Reserve” to allocate up to 5% of foreign exchange reserves to Bitcoin. Once implemented, Brazil will become the second Latin American country after El Salvador to establish legal BTC reserves. Brazil’s vice president’s chief of staff, Pedro Giocondo Guerrá, said in March that “strategic sovereign bitcoin reserves” are essential to the country’s prosperity and a matter of public interest, calling bitcoin “the gold of the internet.”