In an unprecedented legislative move for Asia, the Philippine Congress is reviewing a proposal to integrate cryptocurrency into the nation’s financial treasury, BitPinas reported.

Introduced on 30 June 2025 by Congressman Miguel Luis Villafuerte, House Bill No. 421 seeks to mandate the Bangko Sentral ng Pilipinas (BSP) to build a Strategic Bitcoin Reserve.

The legislation outlines a clear acquisition strategy, directing the central bank to procure 2,000 tokens each year over a five-year period, ultimately amassing a 10,000 Bitcoin portfolio.

To ensure the security of these digital assets, the central bank would distribute the holdings across domestic cold storage facilities.

The legislation also includes a strict rule requiring the government to hold the acquired cryptocurrency in trust and forbidding it from selling the tokens for at least two decades.

If enacted, the Philippines would join countries like El Salvador and Brazil in state-level digital asset adoption, while setting a legislative precedent in the Asian region.

Featured image by drobotdean via Freepik.