On October 28, new reports revealed that France is considering implementing a pro-Bitcoin and crypto bill. The bill will reportedly be tabled today in the French Parliament, and it includes a Strategic Bitcoin Reserve.
The bill is supported by the UDR party led by Eric Ciotti. This is the first time such a comprehensive text on Bitcoin and crypto is proposed in the country.
The news was exclusively reported by the co-founder of The Big Whale onchain finance guide, Grégory Raymond.
Key Proposals Included in the French Bill
Official information includes the following main proposals addressed by the Bitcoin and crypto bill:
1. Creating a French Strategic Bitcoin Reserve
The bill's text proposed the creation of a Public Administration Establishment (EPA) dedicated to holding and managing a Bitcoin reserve, which would include 2% of the total Bitcoin supply - 420,000 BTC within 7-8 years.
The aim of such a reserve is to create a new form of "national digital gold" to:
- Diversify foreign exchange reserves
- Protect the country's financial sovereignty
The Bitcoin reserve's funding would be achieved via:
- Public mining using surplus nuclear and hydroelectric power (with adapted taxes for miners)
- Systematic retention of BTC seized from legal proceedings
- Allocation of a quarter of the amounts collected via Livret A and LDDS saving schemes to daily BTC purchases on the secondary market (15 million Euros daily, or 55,000 BTC yearly)
2. Encouraging Euro-Denominated Stablecoins
The bill recognizes that stablecoins are a credible alternative to the Visa-Mastercard system, proposing regulated daily use, allowing:
- A ceiling of 200 Euros/day in payments using Euro-denominated stablecoins, which would be exempt from taxes and social contributions
- Payment of taxes in Euro stablecoins
The target is to ease the MiCA regulation to facilitate stablecoin issuance by the European banks and companies, and oppose the digital Euro (CBDC) at the EU Council, which is centralizing and dangerous for financial freedoms.
3. Supporting Industry Players
The bill also addresses energy and financial barriers to the development of the French ecosystem, proposing to adapt electricity for mining via:
- The creation of a progressive dynamic excise duty based on price tiers
- Experimenting with flexible TURPE tariffs for flexible and adjustable consumer sites, including mining data centers
4. Boosting Institutional Crypto Adoption
The bill proposes integrating Bitcoin and crypto into the EPA via ETNs to support the institutional adoption and secure indirect holding. On certain crypto assets, the risk weighting would be adapted up to 1,250% to make "Lombard" loans backed by crypto possible.
Defending the French Crypto Ecosystem
The pro-Bitcoin and crypto bill is an independent legislative proposal without collaboration from other political forces, and it mirrors the party's ambition to position itself as the party best able to defend the French crypto ecosystem's interests.
The bill is discussed as the US and some countries in the EU are facing recession fears due to current economic conditions.
Bitcoin is already known as the best investment in 2025, a hedge against inflation, and a store of value, and it could counteract the dangers of a falling economy.
On October 28, Bitcoin is trading above $114,000 as the crypto industry awaits important events this week. In the past month, Bitcoin surged by more than 4% signalling chances of ending October in the green in 2025.
