BlockBeats News, February 13th. According to the Brazilian Chamber of Deputies website, a strategic sovereignty Bitcoin reserve replacement bill named RESbit has recently been officially submitted. The bill proposes that Brazil, over 5 years through planned gradual acquisitions, accumulate at least 1 million bitcoins as a national strategic reserve asset. This submitted bill significantly expands the scale of previous bills regarding using 5% of foreign exchange reserves to purchase bitcoins.The draft also includes provisions to prohibit the sale of Bitcoin seized judicially, accept Bitcoin as payment for federal taxes, and provide incentive measures for Bitcoin mining and holding companies. If passed, this bill would position Brazil's holdings to surpass those of the United States and China. Currently, the bill still needs to address restrictions from existing central bank regulatory frameworks, as current central bank regulations do not consider the use of Bitcoin as a reserve asset.

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