The post Philippines reviewing bill to create Strategic Bitcoin Reserve with 10,000 BTC appeared on BitcoinEthereumNews.com.

Lawmakers in the Philippines are reviewing a proposed bill, which, if passed, would allow the country’s central bank to hold up to 10,000 BTC as part of a strategic Bitcoin reserve. Summary House Bill 421 directs the Philippine central bank to accumulate Bitcoin for 5 years. If passed, the Philippines would become the first Southeast Asian country to legislate such a reserve. House Bill 421 has been aptly named the Strategic Bitcoin Reserve Act and was presented to the House of Representatives by Congressman Miguel Luis Villafuerte. In his bill, the congressman touted Bitcoin as a “strategic asset” that could help the Philippines secure its financial future. Villafuerte’s proposal calls for a sovereign Bitcoin reserve, one that, unlike the holdings of many other nations, would not arise from seizures or forfeitures but through periodic accumulation. Under the proposal, the Philippine central bank would buy 2,000 Bitcoin a year for five years, allowing it to accumulate up to 10,000 Bitcoin, which would then be held in cold storage under strict oversight. Once secured, the reserve must remain untouched for 20 years, with a few exceptions tied to national debt obligations. The bill places clear legal constraints on the central bank, prohibiting any sale, swap, or disposal of the assets during the lock-up period unless the country needs to pay off sovereign debt. The bill also introduces a broader framework around transparency and accountability. It calls for the implementation of a proof-of-reserves system, which would require the BSP governor to issue quarterly public reports detailing the reserve’s Bitcoin holdings, wallet addresses, and control over private keys. If passed, this level of reporting would place the Philippines at the forefront of sovereign digital asset management, offering a degree of visibility rarely seen in government-held crypto reserves. The legislation even imposes post-lockup guardrails. After…

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Filed under: News - @ August 25, 2025 6:25 am