The French Parliament is set to review a new pro-crypto bill today. The proposal, led by Éric Ciotti, Head of the Union of Rights for the Republic (UDR), aims to bring Bitcoin and stablecoins into the country’s financial system.
Ciotti says this move would help protect France’s financial independence and push the nation to the front line of Europe’s growing blockchain revolution.
According to journalist Grégory Raymond, the bill is the first comprehensive crypto legislation ever tabled in France. It outlines three major areas: creating a national Bitcoin reserve, promoting euro-based stablecoins, and supporting local crypto industry growth. Consequently, the proposal signals an effort to adapt France to what Ciotti calls a “new monetary order.”
The proposal calls for the creation of a public institution dedicated to managing a reserve equal to 2% of Bitcoin’s total supply—around 420,000 BTC. The goal is to build “national digital gold” to strengthen France’s monetary resilience. Ciotti’s plan includes using surplus nuclear and hydroelectric energy for public Bitcoin mining and retaining BTC seized during legal cases.
Moreover, part of France’s Livret A and LDDS savings funds—about €15 million daily—would purchase Bitcoin directly. Taxes could also be paid in BTC, subject to constitutional approval.
Supporting stablecoins and local mining
The bill also encourages the daily use of euro-denominated stablecoins as an alternative to Visa and Mastercard systems. It suggests a daily spending limit of €200 that is exempt from taxes and social fees. Stablecoins could be used to pay taxes as well. Furthermore, the proposal calls on the EU to ease MiCA rules and oppose the centralized digital euro (CBDC).
On the industrial front, Ciotti wants to adapt electricity taxation for miners and integrate crypto assets into traditional investment plans. “High-performance computing and Bitcoin mining are not mere technological curiosities: they are useful, value-creating activities,” Ciotti recently stated. However, the bill faces an uphill battle. The UDR holds only 16 out of 577 seats, making passage unlikely.