resbit

According to the official website of the Brazilian Chamber of Deputies, a strategic sovereign Bitcoin reserve alternative bill named RESbit has recently been officially submitted. The bill proposes that Brazil accumulate at least 1 million Bitcoins as a national strategic reserve asset through a planned gradual acquisition over the next 5 years.The submitted bill significantly expands the scale of the previous bill regarding the use of 5% of foreign exchange reserves to purchase Bitcoin. The draft also includes prohibiting the sale of Bitcoins seized by the judiciary, accepting Bitcoin payments for federal taxes, and providing incentives for Bitcoin mining and holding enterprises. If this bill is passed, Brazil's holdings are expected to surpass those of the United States and China. Currently, the bill still needs to address the limitations of existing central bank regulatory regulations, as the current central bank regulations do not consider using Bitcoin as a reserve asset.