France considers a proposal to ban digital euro and hoard Bitcoin

French lawmakers are preparing to consider a proposal that could significantly impact the country's acceptance of digital assets, from stablecoins to Bitcoin (BTC).

According to a proposal presented by MP Éric Ciotti of the Union of the Right for the Republic on Wednesday, the proposal calls for the French Parliament to ban the digital euro developed by the European Central Bank (ECB), while promoting the widespread adoption of euro-pegged stablecoins and investing in crypto assets.

Propose to cite the GENIUS Act passed by the United States in July, which prohibits the issuance of central bank digital currency (CBDC) and encourages stablecoins.

The text emphasizes:

“This resolution calls on the Government to support a separate prudent framework for engaging with crypto assets, distinct from the Basel 2022 standards, to facilitate the collateralization of digital assets and deeper reforms within the Basel Committee.”

Although not mentioned directly, some reports indicate that Mr. Ciotti wants the French government to hold 2% of the total Bitcoin supply, valued at approximately 48 billion USD, as part of a strategic reserve — similar to the U.S. move to build a Bitcoin and crypto reserve from seized assets in criminal cases.

This is the latest proposal related to crypto policy in the French Parliament. Back in August, the Rassemblement National party had proposed that the government mine Bitcoin using excess nuclear power.

On the international level, many other countries are also considering building crypto reserves. In Kyrgyzstan, lawmakers have discussed with former Binance CEO Changpeng Zhao about establishing a digital asset reserve fund. Meanwhile, an economic center in Bhutan stated in January that they plan to set up a strategic reserve fund consisting of BTC and other tokens.