France’s Pro-Bitcoin Bill Heads to Parliament
The French UDR party, led by Eric Ciotti, is preparing to submit a sweeping Bitcoin and crypto policy bill to parliament, signaling one of the boldest national pushes for digital asset adoption in Europe.
The proposed legislation outlines the creation of a massive national Bitcoin reserve and seeks to expand the use of euro-denominated stablecoins for everyday payments, taxes, and savings.
If approved, the bill would represent a monumental step for France - positioning it as a European leader in Bitcoin adoption and potentially challenging other EU economies to follow suit.
420,000 BTC Reserve: France’s Ambitious Crypto Treasury
At the heart of the bill is a proposal to create a national Bitcoin reserve of 420,000 BTC - roughly 2% of Bitcoin’s total supply. Managed through a Public Administrative Establishment (EPA), the reserve would be built gradually over the next 7–8 years.
The BTC holdings would serve as a diversification tool for France’s foreign exchange reserves, comparable to Michael Saylor’s MicroStrategy in scale.
The acquisition strategy includes:
- Public mining operations, powered by excess renewable energy, supported by favorable tax treatment for miners.
- BTC seized in legal proceedings, such as funds confiscated from the DFAS dark web case.
- Government savings contributions, allocating up to €15 million per day - equivalent to roughly 55,000 BTC per year.
If enacted, this program could make France one of the largest sovereign holders of Bitcoin, rivaling the U.S. and China’s historical reserves from forfeitures and mining operations.
Euro Stablecoins Enter the Spotlight
Beyond Bitcoin, the bill places strong emphasis on euro-denominated stablecoins, urging their integration into the French financial system.
The legislation frames stablecoins as a regulated, efficient alternative to debit card payments and sets a €200 ceiling for tax-exempt transactions. It also proposes that citizens should be able to pay taxes using stablecoins.
The UDR proposal also aims to ease some of the MiCA restrictions at the EU level, allowing European banks and fintechs to issue and manage stablecoins more freely. It explicitly rejects the idea of centralized digital currencies, such as central bank digital currencies (CBDCs), calling them a threat to financial freedom.
Integrating Bitcoin Into the French Financial System
The proposed legislation also seeks to mainstream Bitcoin in France’s broader financial ecosystem by introducing:
- Favorable taxation and energy access for mining operations.
- Recognition of BTC as loan collateral for certain credit products.
- Access to Bitcoin via exchange-traded notes (ETNs) for retail and institutional investors.
France already boasts one of Europe’s most active blockchain sectors, though regulators have historically limited speculative or prediction-based blockchain use cases, such as Polymarket. This bill, however, shifts focus toward Bitcoin’s financial integration - positioning it as a strategic asset, not a speculative one.
A Long Shot with Long-Term Potential
While politically ambitious, analysts note that the bill’s passage remains unlikely given UDR’s limited influence in parliament. However, its introduction marks an inflection point in France’s crypto discourse, forcing policymakers to engage with Bitcoin and stablecoins as legitimate components of monetary policy.
If debated seriously, France could soon emerge as Europe’s most Bitcoin-progressive nation, leveraging blockchain to modernize its financial system and strengthen its economic independence.
