ChainCatcher news, according to The Crypto Basic, former federal deputy Luiz Phillipe of Orleans-Braganza from São Paulo, Brazil, has submitted a bill to the Brazilian Congress seeking to legalize salary payments in Bitcoin. This politician proposed legislation that allows Brazilian workers to receive their salaries and labor rights in the form of cryptocurrency.The bill aims to allow workers to receive up to 50% of their wages and benefits in digital assets. It is important to note that the bill does not mandate the acceptance of Bitcoin but provides a legal basis for residents who wish to engage with emerging technologies. With the employer's consent, employees can choose to receive their labor rights in Bitcoin and can terminate this payment method at any time. The bill also stipulates that 50% of the salary must still be paid in Brazilian reais to ensure the currency's practicality. However, this provision does not apply to freelancers, foreigners, and individual entrepreneurs, with related matters being regulated by the Central Bank of Brazil. The proposal must be approved by a majority vote in the full House of Representatives before it can proceed to the Federal Senate for final review.

ChainCatcher news, a Brazilian congressman has officially proposed the establishment of a national strategic Bitcoin reserve ------ Bitcoin Sovereign Strategic Reserve. The plan, known as the "Bitcoin Sovereign Strategic Reserve" (Reserva Estratégica Soberana de Bitcoins, abbreviated as RESBit), aims to diversify the national treasury. According to Brazilian media platform Portal do Bitcoin, Congressman Eros Biondini submitted this proposal on Monday.Previous news, as the price of Bitcoin approaches $100,000, the demand and price for Bitcoin exchange-traded fund (ETF) shares on the Brazilian stock exchange have surged. The first cryptocurrency ETF launched on B3, Hashdex, has reached an all-time high, with net asset value nearing $689 million.