Brazil Considers ‘RESBit’ Proposal for Bitcoin Reserve

Brazil is considering a groundbreaking proposal called ‘RESBit’, which aims to allocate up to 5% of its national reserves in Bitcoin. This move, subject to legislative approval, would represent around USD 17 billion and separate the Bitcoin reserve from traditional international funds. The proposal outlines specific structures for managing this reserve, including oversight by a technical committee, semi-annual audits, and funding through seized BTC. The bill currently awaits further review before potential implementation.