Brazilian Federal Deputy Luiz Gastão has introduced a bill in the Chamber of Deputies that would create a national Bitcoin reserve through phased state purchases of at least 1 million BTC. The proposal also says seized crypto assets should not be sold, but kept under public management. That puts Bitcoin reserve policy at the center of Brazil’s debate over sovereign digital asset strategy.
The proposal covers acquisition, custody, mining and tax collection
The bill lays out more than a simple buying plan. It includes incentives for public institutions to mine and store Bitcoin, and it opens the door for certain taxes to be collected in Bitcoin. Taken together, those provisions touch multiple parts of the state’s crypto exposure: accumulation, infrastructure, custody, and use in official transactions.
Its treatment of confiscated assets is especially clear. Instead of liquidating seized crypto, the state would retain those assets under public control. That would give Brazil a potential reserve source beyond direct market purchases, linking judicial asset seizures to long-term public holdings.
RESBit disclosure rules and custody standards take center stage
Transparency is one of the main pillars of the framework. The bill requires full public disclosure of the amount of Bitcoin held in the RESBit fund, with regular reporting through digital platforms so citizens can monitor the reserve in real time. In this design, public reporting is not a secondary compliance item; it is part of the reserve model itself.
Security requirements are also explicit. The government would be required to use internationally accepted protections such as cold wallets and multi-signature protocols to safeguard the assets. The source material does not specify which institutions would handle custody, but the published text points to a structure built around stronger asset protection and reduced single-point risk.
Brazil’s bill arrives as sovereign Bitcoin reserve plans spread
If approved, Brazil would join a small group of jurisdictions that hold Bitcoin as part of official reserves. El Salvador remains the highest-profile example, with the Bukele administration having accumulated more than 7,560 BTC for state coffers. Even after softening Bitcoin’s legal tender status during talks with the International Monetary Fund, the country has continued purchases and adjusted its custody approach for security reasons.
In the United States, the so-called BITCOIN Act is expected to come before Congress in early 2025, while New Hampshire and Arizona are developing legal frameworks that would allow public funds to invest in crypto assets. The source also notes that in March 2025, a presidential executive order by Donald Trump directed that Bitcoin seized through legal proceedings be collected for public expenditure and retained as reserves without adding new tax burdens.
Europe is moving on similar discussions. The Czech National Bank has already allocated part of its reserves to Bitcoin, and in Switzerland, citizens are pushing a constitutional amendment that would require the national central bank to officially hold Bitcoin. Hong Kong, Ukraine, and Pakistan are also taking steps toward national Bitcoin reserves through different regulatory and infrastructure measures, with Pakistan stating that its future reserve holdings will not be sold.
Gastão said the proposal aims not only to diversify reserves but also to build a transparent and secure model for state-level crypto holdings. Debate in Brazil’s legislature is now being watched closely as lawmakers consider whether the country should formalize Bitcoin within official reserve policy.