The French political party UDR has introduced a bold cryptocurrency bill in the National Assembly, proposing the creation of a national Bitcoin reserve totaling 420,000 BTC—roughly 2% of the total Bitcoin supply.
According to Grégory Raymond, co-founder of The Big Whale, the proposal, led by Éric Ciotti, aims to position France as a European leader in digital asset adoption.
The bill outlines three major initiatives:
- National Bitcoin Reserve:
A dedicated state institution would accumulate 420,000 BTC over 7–8 years. Funding sources would include surplus nuclear and hydroelectric mining, confiscated bitcoins from legal proceedings, daily BTC purchases, and potentially tax payments made in Bitcoin. - Euro-Pegged Stablecoin Support:
Stablecoins denominated in euros would be recognized as legitimate alternatives to Visa and Mastercard. The bill suggests tax exemptions for payments under €200 per day, allows tax payments in stablecoins, and calls for easing MiCA regulations while opposing the EU’s push for a digital euro. - Tax Incentives for Miners and the Crypto Industry:
The proposal introduces flexible energy taxation for mining data centers, permits crypto assets to be held in investment accounts (PEA) through exchange-traded products, and advocates for revising EU prudential rules around high-risk assets.
Despite its scope, the bill’s chances of passing remain slim—it is not part of the national budget and lacks cross-party support. The UDR currently holds only 16 out of 577 seats in parliament.
Still, analysts note that the proposal serves as a strong political statement highlighting the growing pro-crypto sentiment among certain French lawmakers.
Earlier, the Bank of France urged the EU to hand over supervision of crypto firms to ESMA, signaling increased regulatory momentum across Europe.
