A senior Brazilian official: Bitcoin reserves are "crucial" to Brazil's prosperity
according to Decrypt, Pedro Giocondo Guerra, senior advisor to the Vice President of Brazil, stated in a recent speech on behalf of the government: "The strategic reserve of Bitcoin is crucial for the prosperity of the country. Discussions about establishing a BTC reserve may be a key factor in deciding the prosperity of Brazil, in line with the interests of the country and the public." Brazilian congressman Eros Biondini (PL-MG) previously proposed legislation to establish a "strategic sovereign Bitcoin reserve" (RESBit). Holding 5% of foreign exchange reserves (international reserves) in Bitcoin, the Central Bank of Brazil will use advanced monitoring systems, blockchain technology, and artificial intelligence to monitor transactions and be responsible for custody.
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