Éric Ciotti, the leader of the French political party UDR, has unveiled a bill proposing the creation of a strategic bitcoin reserve. The bill, which is unlikely to garner sufficient support from French lawmakers, aims to acquire, hold, and manage 420,000 bitcoins ( BTC) over the next seven to eight years.
According to French journalist Grégory Raymond, the BTC reserve bill calls for the creation of a Public Administrative Establishment (EPA) with the goal of building a “national digital gold” reserve. The bill proposes three ways the government can go about this process, including the use of surplus nuclear and hydroelectric power to mine the BTC.
The EPA would aim to hold and manage 420,000 BTC, representing 2% of the total bitcoin supply, over the next seven to eight years. Ciotti’s party also wants the French government to follow in the footsteps of the U.S., which has also floated the idea of using seized BTC.
“Allocation of a quarter of amounts collected through the Livret A and LDDS savings schemes to daily BTC purchases on the secondary market (approximately 15 million euros per day, or 55,000 BTC per year),” the bill adds.
The UDR bill, which also proposes the idea of paying taxes in BTC, is framed as a measure to diversify foreign exchange reserves and protect France’s financial sovereignty.
With respect to stablecoins, the UDR text recognizes euro-denominated stablecoins as a credible alternative to traditional card networks like Visa and Mastercard. This aligns with the European Union’s vision of breaking free from the stranglehold of U.S. fintech and payments companies.
The bill also pushes for easing the MiCA regulation to facilitate stablecoin issuance by European banks and companies. However, the UDR text opposes the digital euro, which EU officials believe will counter dollar-based stablecoins.
While the bill generated attention for the UDR party, which drafted it without the collaboration of other major political forces, it has a very slim chance of being passed. The UDR has 16 members of parliament out of 577, making its adoption by the Parliamentary Bureau highly unlikely.
Yet, despite the near-certainty of defeat, the UDR’s initiative demonstrates an ambition to position itself as the primary political defender of the French crypto ecosystem. The move appears to follow a blueprint which worked well for President Donald Trump in the last elections.
- What is the UDR’s bitcoin bill about? It proposes creating a French strategic reserve of 420,000 BTC via mining and market purchases.
- How would France acquire the BTC? The bill suggests using surplus nuclear energy and savings schemes like Livret A to fund BTC buys.
- Does the bill address stablecoins? Yes, it supports euro-denominated stablecoins but opposes the EU’s digital euro initiative.
- Will the bill pass in Parliament? Unlikely—UDR holds only 16 of 577 seats, making broad support improbable.
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