Philippine reviews to create a strategic bitcoin reserve with 10,000 BTC star-news.press/wp

The Philippine lawmakers review a proposed bill, which, if approved, will allow the country’s central bank to keep up to 10,000 BTC as part of the strategic Bitcoin reserves.

Home Law Bill 421 Bitcoin strategic reserve law was adequately named and submitted to the House of Representatives by Congress Member Miguel Louis Villauerte. In his bill, a member of Congress Bitcoin described as a “strategic origin” that could help the Philippines secure its financial future.

Philavorte’s proposal to the sovereign bitcoin reserves, which, unlike the holdings of many other countries, will not arise from seizures or confiscation but through periodic accumulation.

Under the proposal, the Philippine Central Bank will buy 2000 bitcoin annually for a period of five years, allowing it to collect up to 10,000 Bitcoin, which will then be held in cold storage under strict supervision.

Once it is secured, the reserve should remain not touched for 20 years, with a few exceptions related to national debt obligations. The draft law places clear legal restrictions on the central bank, or prohibits any sale, exchange, or disposal of assets during the lock period unless the state needs to pay sovereign debt.

The bill also provides a broader framework on transparency and accountability. It calls for the implementation of the archers proof system, which will require the BSP governor to issue quarterly public reports that explain in detail Bitcoin’s possessions, portfolio addresses, and private keys control.

If approved, this level of reports will put the Philippines at the forefront of the sovereign digital asset management, providing a degree of vision rarely seen in the government -controlled encryption reserves.

Even the legislation imposes handrails after East. After 20 years, any liquidation of Bitcoin reserves will remain; It is not permissible to sell or use more than 10 % in any window for two years.

Early engine feature

If this bill advances forward, the Philippines will become the first country in Southeast Asia to legislate the establishment of a sovereign bitcoin reserve through the official statute. This discrimination alone can enhance the country’s profile in the global encryption circles.

“Bitcoin gives emerging markets like the Philippines the opportunity to roam Western financial capital and protect themselves from the low value of currencies,” said Kadan Stadelman, chief technology employee in Komodo.

He added: “The Philippines entered the Bitcoin race for arms, and the bill verifies the health of Bitcoin as a digital gold. However, the Philippines did not make any law legitimizing Bitcoin, which may not preach goodness due to the death of the bill.”

However, Stadelman believes that the Philippines can benefit from the presence of Bitcoin’s reserves due to Bitcoin’s capabilities to estimate it, and the fact that “it can also help in financial inclusion in a nation where many are not accompanying.”

Unlike countries such as El Salvador newspaper headlines to adopt bitcoin as a legal tender, in contrast, it can be said that the Philippine initiative is more conservative and structurally focused, and focuses on long -term accumulation and financial insulation rather than integration at the retail level.

With 10,000 Bitcoin, the Philippines exceeds the current Salvador reserves, which is about 6276 BTC, and closed in Potan’s amounts reported to more than 10,500 BTC.

The proposal at a time when the Philippines tightens its grip on the encryption regulation. As it was previously covered by Crypto.News, earlier this month, the Securities and Stock Exchange Committee warned ten major encoding, including OKX, Bybit and Kucoin, to work without a suitable registration under the rules of the newly -enact encryption service provider.