Overview

• Indonesia’s Vice President Gibran Rakabuming Raka’s office met with Bitcoin Indonesia on August 5 to discuss integrating Bitcoin mining into national reserves.
• Delegates proposed state-backed Bitcoin mining, national education initiatives and long-term price projections from Michael Saylor to support economic resilience.
• Indonesia recently doubled transaction taxes on crypto trades to 0.21% for domestic and 1% for international platforms and raised mining VAT to 2.2%.
• Brazil’s Chamber of Deputies is set to hold a public hearing on August 20 to debate Bill 4501/2024, which would allow up to 5% of international reserves to be held in Bitcoin under a new oversight framework.
• Under the bill, Brazil’s Central Bank and Ministry of Finance would oversee custody, risk management and cold-wallet storage, with the executive branch given 180 days to issue regulations if the measure passes.