-
Brazil may buy 1M BTC over 5 years, creating the largest national Bitcoin reserve globally.
-
Companies can hold, mine, and pay taxes in Bitcoin under the new bill.
-
RESbit includes strict rules, transparency reports, and safeguards for citizen custody rights.
Brazil is taking a step toward building a strategic Bitcoin reserve, as Congress reintroduced bill 4501 of 2024. The plan would let the country acquire up to 1 million BTC over the next five years. Federal Deputy Luiz Gastão highlighted that this effort could cost at least $68 billion, which would surpass the Bitcoin holdings of countries like the U.S. and China. The move aims to diversify Brazil’s national assets, protect against inflation, and strengthen financial independence
The bill proposes creating RESbit, the Strategic Sovereign Bitcoin Reserve, which the central bank would manage alongside the Ministry of Finance. It ensures Bitcoin remains immune from confiscation and allows for private custody by citizens.
Gastão noted, “These guarantees are essential to stimulate investment, consolidate an innovative economic ecosystem, and create legal certainty.” Besides direct purchases, the reserve could accumulate BTC through taxes, temporary ETF holdings, and corporate holdings.
Expanding Bitcoin Use Across the Economy
Bill 4501/2024 goes beyond simply buying Bitcoin. It incentivizes companies to hold or mine Bitcoin and even allows Bitcoin payments for federal taxes. Moreover, it forbids selling Bitcoin seized by courts, protecting the asset from government liquidation.
The legislation positions Bitcoin not only as a financial reserve but also as a tool for monetary sovereignty. Consequently, it could back Drex, Brazil’s central bank digital currency.
Congressman Eros Biondini, the bill’s author, highlighted Bitcoin’s scarcity and security properties. He argued these traits make Bitcoin superior or complementary to gold and dollar reserves. Additionally, the bill mandates semi-annual reports from the central bank detailing all transactions and performance of RESbit. This aims to increase transparency and maintain public trust.
Governance and Legal Protections
The law includes strict accountability rules. Article 6 outlines administrative and criminal sanctions for mismanagement of RESbit. Managers must reimburse public funds if they violate regulations. Furthermore, the Internal Revenue Service has 12 months to develop the technological infrastructure necessary for Bitcoin integration.
However, central bank regulations currently do not recognize Bitcoin as a reserve asset, creating potential legal conflicts. Any administrative restriction on user-controlled wallets is void, safeguarding citizen autonomy.
Apart from strengthening reserves, the law also aims to modernize Brazil’s financial ecosystem. International partnerships are encouraged in order to share best practices. The Executive Branch is required to regulate the law within 180 days after its publication.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
The New York Times reignites the “Satoshi identity mystery”; after Adam Back was targeted, he quickly clarified
Author: Nancy, PANews
Satoshi Nakamoto’s real identity remains the mystery that has continued for 17 years in the crypto world. Guesses surrounding this pseudonym have never stopped—candidates ranging from cryptographers to company founders have come and gone, yet there has always been a lack of decisive evidence.
Recently, The New York Times published a 10,000-plus-word investigation. Based on multiple comparisons drawn from language style, technical paths, and historical context, it ranked Blockstream CEO Adam Back as the strongest candidate for Satoshi Nakamoto. However, this claim was quickly and explicitly denied by Back himself, and the relevant arguments were widely questioned by the industry as difficult to substantiate.
Satoshi Nakamoto identity controversy flares up again; the 10,000-plus-word investigation targets Adam Back
In this investigation, New York Times reporter John Carreyrou spent more than a year deeply sorting through decades of archives and the cypherpunk email mailing lists to
区块客41m ago
Morgan Stanley Bitcoin ETF Drives 3-Fold Impact as 16,000 Advisors Open Path to Multi-Billion Demand
Bitcoin demand is set to expand rapidly as Morgan Stanley deploys its 16,000 advisors and launches a low-cost ETF, driving institutional inflows and strengthening crypto’s position in mainstream portfolios.
Key Takeaways:
Morgan Stanley’s 16,000 advisors unlock major bitcoin demand, driving
Coinpedia5h ago
DWF Labs Co-Founder: The current market is boring, but it hasn’t disappeared—builders or investors still have a lot to do.
DWF Labs co-founder Andrei Grachev said the market is currently in a “boring” phase, with many important activities quietly underway. He advised investors to stay patient and look for a better timing. He emphasized that opportunities still exist in the market—such as holding Bitcoin or participating in altcoins—and urged retail investors to keep learning and remain optimistic.
GateNews5h ago
Researchers propose a transaction scheme for quantum-resistant Bitcoin without needing a fork
Gate News message, on April 12, a researcher proposed a transaction scheme that enables quantum-resilient protection for Bitcoin without requiring a fork. At present, the quantum computing threat to Bitcoin is still at the theoretical level. Meanwhile, tech companies such as Google and Cloudflare have already begun preparing countermeasures and set a target timeline to complete the migration of quantum cryptography after 2029.
GateNews6h ago
Contract whale “sets 10 big targets first” — the short position is up $3.21 million; the BTC short opening price is $71,554.61.
Gate News message, April 12, according to on-chain analyst Ai Yi (@ai_9684xtpa) statistics, the short positions of the contract whale “first set 10 big targets” (@Jason60704294) are currently up $3.21 million. Of this, the BTC short positions are 2,567.49 BTC, with an opening price of $71,554.61, and an unrealized profit of $1.19M; the ETH short positions are 38,465.22 ETH, with an opening price of $2,248.74, and an unrealized profit of $2.03M.
GateNews6h ago
