Techub News: A strategic sovereign Bitcoin reserve alternative bill called RESbit has been officially submitted to the Brazilian House of Representatives, proposing that Brazil accumulate at least 1 million Bitcoins over 5 years through phased purchases as a national strategic reserve asset. The bill significantly expands on the previous proposal to use 5% of foreign exchange reserves to buy Bitcoin, and also includes measures to prohibit the sale of Bitcoin seized through judicial processes, accept Bitcoin payments for federal taxes, and provide incentives for Bitcoin mining and holding companies. If passed, Brazil's Bitcoin holdings could surpass those of the United States and China. Currently, the bill still faces restrictions under existing central bank regulations, as current laws do not recognize Bitcoin as a reserve asset.