Brazilian lawmakers held a hearing on Bill 4501/2024, which proposes allocating up to 5% of the country's international reserves (about $16.40 billion) to bitcoin. These reserves will be managed by the Brazilian Central Bank and the Ministry of Finance.
However, the Brazilian central bank has expressed concern that the high volatility of bitcoin could damage the credibility of its monetary policy. Therefore, the bill is currently under further review.
Brazilian lawmakers propose allocating 5% of foreign exchange reserves to bitcoin, central bank expresses concern
2025-08-21 04:50:48
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