PANews reported on August 21st that, according to stackfy.app, the Brazilian Chamber of Deputies held a hearing to discuss Bill No. 4501/2024, which proposes allocating up to 5% (approximately $16.4 billion) of international reserves to Bitcoin, to be managed by the Central Bank and the Ministry of Finance. The Central Bank opposed the proposal, arguing that Bitcoin's high volatility could undermine the credibility of monetary policy. The bill remains pending further review.