France Proposes National Bitcoin Reserve, Wants to Buy 2% of Bitcoin Supply
France's UDR party proposed a bill to establish a national Bitcoin Strategic Reserve, aiming to acquire 2% of the total supply.Summary
The center-right Union of the Right and Centre (UDR) party in France introduced a comprehensive bill proposing the creation of a national Bitcoin Strategic Reserve, positioning Bitcoin as "digital gold" to enhance financial sovereignty. The legislation aims for France to acquire up to 2% of Bitcoin's total supply (about 420,000 BTC) over seven to eight years, managed by a Public Administrative Establishment (EPA). Funding would involve utilizing surplus nuclear and hydroelectric energy for public Bitcoin mining operations and allocating a quarter of funds from popular savings schemes like Livret A for daily Bitcoin purchases. Furthermore, the bill suggests allowing citizens to pay certain taxes in Bitcoin and promotes euro-denominated stablecoins for payments while opposing a centralized European Central Bank digital euro. The proposal also seeks to adapt taxation for miners and revise prudential rules limiting crypto as collateral. However, the bill faces significant political challenges due to the UDR's small presence in the National Assembly.
(Source：Bitcoin Magazine)