Brazilian House Proposes National Bitcoin Reserve Strategy

PANews posted on X (formerly Twitter). The Brazilian House of Representatives has introduced a substitute proposal, PL4501/2024, through its Economic Development Committee, aiming to establish a National Bitcoin Strategic Reserve (RESBit). The plan outlines the accumulation of at least one million Bitcoins over a five-year period. Additionally, the proposal includes provisions for allowing Bitcoin to be used for tax payments and offers income tax exemptions on capital gains from digital assets. It also enshrines the rights of users to self-custody and transfer digital assets.