A new bill in Brazil’s Chamber of Deputies proposes creating a national Bitcoin reserve known as ‘RESBit,’ potentially setting the country apart as a leader in crypto regulation. Introduced by Deputy Eros Biondini, the proposal has garnered support from the Economic Development Committee and suggests allocating up to 5% of Brazil’s foreign exchange reserves to Bitcoin. The bill outlines that the Brazilian Central Bank and Ministry of Finance will manage the reserves using strict security protocols like cold wallets and submit audited transparency reports every six months. Despite the progress, the bill still requires approval from committees on technology, constitution, and finance before it can be enacted.