Brazil's Bitcoin Reserve Bill passes first round, may allocate 5% of forex reserves to BTC

[Chain News] On June 17, it was reported that Brazil’s Bitcoin Reserve Bill “PL 4501/2023 or PL 4501/2024” has passed the review of the first committee. The bill proposes to establish a “sovereign strategic Bitcoin reserve,” allocating up to 5% of forex reserves to Bitcoin. Once implemented, Brazil will become the second Latin American country to establish a legal BTC reserve after El Salvador.

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