PANews reported on March 29 that according to Decrypt, Pedro Giocondo Guerra, senior adviser to the Brazilian Vice President, said on behalf of the government in a recent speech: "The strategic reserve of Bitcoin is essential to national prosperity. Discussions on the establishment of BTC reserves may be a key factor in determining Brazil's prosperity and are in the interests of the country and the public." Brazilian congressman Eros Biondini (PL-MG) previously proposed a legislation proposing the establishment of a "Strategic Sovereign Bitcoin Reserve" (RESBit). By holding 5% of foreign exchange reserves (international reserves) in Bitcoin, the Brazilian Central Bank will use advanced monitoring systems, blockchain technology and artificial intelligence to monitor transactions and be responsible for custody.