Brazil’s lawmakers are set to conduct a hearing on the possible addition of Bitcoin to the country’s sovereign reserves.
Summary
- The Chamber of Deputies in Brazil is holding a hearing to consider Bitcoin as a reserve asset
- The Economic Development Committee will invite experts from government, banking, and other sectors
Brazil might soon join the ranks of nations that incorporate Bitcoin (BTC) as a reserve asset. On August 20, the Economic Development Committee of the Chamber of Deputies will discuss the potential establishment of a sovereign Bitcoin strategic reserve.
Representative Luiz Philippe de Orleans e Bragança has initiated the discussion surrounding Bill 4501/24, which aims to create a “strategic sovereign reserve of Bitcoin.” His goal is to gather technical feedback from various government agencies.
“We recognize that it is crucial to obtain the monetary authority’s technical viewpoint on this bill to enhance the text,” the Representative stated. He also expressed a desire to hear from government officials, bankers, and other industry experts.
The upcoming discussions will also aim at refining the proposed legislation. The representative noted that the bill corresponds with Brazil’s existing regulatory framework on digital currencies, introduced in December 2022.
Brazil advocates for Bitcoin adoption
Representative Luiz Philippe de Orleans e Bragança, the architect of the Bitcoin reserve bill, is a descendant of Brazil’s former royal lineage and a proponent of cryptocurrency. In March, he introduced legislation allowing Brazilian workers to request up to 50% of their salaries in crypto.
Brazil is among several nations currently evaluating the establishment of a Bitcoin strategic reserve. Earlier in August 2025, Indonesian officials convened with cryptocurrency advocates to discuss a similar initiative.
Proponents of sovereign Bitcoin reserves highlight its potential as protection against inflation and geopolitical instability. Conversely, critics point out the inherent volatility of Bitcoin.
