Analysis Crypto by Thebittimes.Com

A Brazillian Congressman has proposed the creation of a national Bitcoin (BTC) reserve in Brazil called Bitcoin Sovereign Strategic Reserve (RESBit – Reserva Estratégica Soberana de Bitcoins , in Portuguese), aiming to diversify the country’s Treasury. According to Portal do Bitcoin , a local media outlet, the politician, Eros Biondini, filed the proposal on Monday, November 25.  “The creation of RESBit is a strategic measure that positions Brazil as a leader in the new digital economy, reducing economic risks and expanding opportunities for technological and financial development. The approval of this project is essential to guarantee the country’s economic sovereignty and align Brazil with global innovation trends,” wrote the deputy in the justification for the bill. Picks for you Trading expert believes this is just the beginning of X...

A former top official at China’s Finance Ministry said crypto is a “crucial aspect” of the digital economy and urged the nation to study it carefully amid a shifting political landscape in the US. Former Vice Finance Minister Zhu Guangyao told a forum at Tsinghua University in Beijing that while crypto poses certain risks, China must study its growing role in international financial markets because it is ”crucial” to the development of the digital economy, a ccording to a report by Sina Finance . China Banned Crypto In 2019 China banned cryptocurrencies in 2019 and its policy towards digital assets remains hostile, even though its Special Administrative Region of Hong Kong is rolling out the red carpet for the crypto industry as it strives to bolster its role as a financial center. Still, it’s unusual for a former official to speak out against existing policy. NEW: 🇨🇳China's former finance minister, Zhu Guangyao, says crypto is a...