This week, the Brazilian parliament reintroduced a Bill proposing a Strategic Sovereign Bitcoin Reserve worth $68B to be acquired by purchasing one million Bitcoins over five years. Meanwhile, Hong Kong’s Securities and Futures Commission granted its twelfth digital asset platform trading license to Victory Fintech (VDX), and the first in 8 months. Lastly, Polish authorities are hotly re-debating a previously vetoed crypto bill designed to align the country’s regulatory regime with the EU’s MiCA regulations.
To learn more, read on.
Brazil proposes a strategic Bitcoin reserve worth $68B over five years
Brazil’s Congress is re-debating a bold proposal to establish a Strategic Sovereign Bitcoin Reserve (RESBit, or Bill No. 4501/2024) funded by the purchase of one million Bitcoins over the next five years at an estimated cost of $68B. This would make Brazil a significant holder of Bitcoin while signaling strong institutional support for Bitcoin from a major economy.
Should RESBit pass, the price impact would be spread over five years, although prices could rise in anticipation of the purchase. There is a fixed total of 21 million Bitcoins, so buying one million would reduce the number available, pushing prices up and reinforcing Bitcoin’s image as ‘digital gold.’
The proposal faces regulatory and political challenges, but even its mere discussion illustrates the shift in attitudes towards Bitcoin, which is now seen as potentially part of a national financial strategy rather than merely a speculative investment. This could further embed trust in crypto markets, be attractive to institutional investors, and embolden fellow emerging economies to investigate Bitcoin reserves as a means of diversification and security against currency devaluation.
Why this matters: Brazil’s proposed move to gradually acquire 4.76% of the global Bitcoin supply over five years is bold, and jurisdictions in similar economic circumstances will closely follow its progress. Meanwhile, lawmakers and regulators will have to carefully consider how the reserve fund is grown and managed if RESBit is successful.
Read more on Trading view, and learn more about the transformation of Brazil’s regulation of crypto here.
Hong Kong grants 12th digital asset trading license after eight-month break
Hong Kong’s Securities and Futures Commission (SFC) granted a crypto trading license to Victory Fintech (VDX) on February 13, 2026. VDX, an affiliate of publicly listed Victory Securities (Holdings) Co. Ltd, became the twelfth company to be granted permission to run a digital asset trading platform in Hong Kong, and the first since June 17, 2025.
The SFC granted the previous 11 licenses in stages from 2020 to mid-2025, with OSL Exchange (December 2020) and HashKey Exchange (November 2022) being the pioneers. Hong Kong introduced its current crypto regulatory regime in 2023, and 9 further licenses were granted up to June 2025, before the 8-month period preceding the VDX award.
Although these included licenses granted to major companies such as the New York Stock Exchange-listed Bullish (BLSH) in February 2025, the SFC’s strict new standards led prominent exchanges OKX and Bybit to withdraw their applications in May 2024. This confirmed Hong Kong’s reputation as having one of the most rigorous crypto regulatory regimes of the world’s major financial jurisdictions.
Why this matters: The Hong Kong SFC’s message to crypto exchanges seeking to establish businesses in the Special Administrative Region is clear: They must comply with strict digital asset regulations designed to protect both the local financial system and consumers. While VDX and others should be congratulated on their successful entry into the Hong Kong market, their compliance teams will have to work hard to ensure that their anti-money laundering and know-your-customer procedures and systems are up to the task.
Read more on CoinDesk.
Polish crypto exchanges face a July 2026 MiCAR illegality deadline if crypto bill is vetoed again
Poland’s Financial Supervision Authority (KNF) has warned that local crypto trading platforms and digital asset service providers will become illegal on July 1, 2026, without necessary authorization under the EU’s Markets in Crypto-Assets (MiCA) regulations. The issue centers on Poland’s Crypto Assets Act Bill, debated in September 2025, proposed by Prime Minister Donald Tusk to align the country’s digital asset market with MiCA requirements, but vetoed by President Karol Nawrocki in December 2025, who said it threatened the freedom and property of Poles and could destabilize the state.
With the Bill again being debated and passed by both Polish Houses of Parliament, but with “insignificant changes”, it could face another presidential veto. The KNF claims that, without the law in place, Poland will not have a designated competent national authority to oversee the crypto industry, a stipulation of the MiCA regulations and required by the immutable July 1 deadline. With other EU countries competing to become leading MiCA gateways, some Polish companies are already moving to the Baltic states of Estonia, where the Polish exchange Zondacrypto has established itself, and Latvia, which offers easier licensing arrangements and access to the EU market.
Meanwhile, detractors of the proposed crypto bill contend that what could drive this emigration of exchanges to friendlier regulatory climates is “the legislation itself,” which they say imposes onerous additional rules and fees beyond the MiCA requirements.
Why this matters: The Polish Crypto Assets Act debate is a clear example of the challenges of safely integrating digital assets into an economy without suffocating crypto adoption through excessive regulation and fees. Whatever the merits of the arguments, the flight of exchanges elsewhere in the EU will likely cause revenue losses, as these companies will no longer pay taxes in Poland. Lawmakers and regulators should closely follow the Bill’s passage and Nawrocki’s response and carefully prepare for the consequences of whichever outcome.
Meanwhile, compliance teams at both remaining and emigrating exchanges will have to adjust and adapt their systems according to the result.
Read more on Cryptorank and Cryptopolitan.
