On August 20, Brazil’s House of Representatives will hold a hearing to address a bill proposing the establishment of a national Bitcoin reserve. Key stakeholders, including the Central Bank and the Ministry of Finance, will take part in the discussion.
The bill, if passed, would allocate up to 5% of Brazil’s treasury, around 15 billion USD, for Bitcoin purchases. This move is intended to protect against exchange rate volatility and to encourage blockchain use in both public and private sectors.
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