The French Parliament proposed to establish a national reserve of 420,000 Bitcoins, opposing CBDC and promoting the euro stablecoin.

The French National Assembly recently passed a resolution proposed by Éric Ciotti and other lawmakers, clearly opposing the European Central Bank's proposed Digital Euro, and supporting the use of Bitcoin and stablecoins pegged to the Euro as alternatives. The proposal calls on the French government to reject the European Commission's draft on the Digital Euro, citing that CBDCs pose a threat to privacy and economic freedom and could trigger a bank run. Instead, the resolution presents an ambitious pro-encryption agenda, including the establishment of a national reserve equivalent to 2% of Bitcoin's total supply (approximately 420,000 BTC), and calls for Europe to revise the MiCA regulations to promote the development of Euro stablecoins to counter reliance on American digital currencies.

New Trends in French Legislation: The Battle for Freedom and Strategic Layout Regarding Bitcoin

French lawmakers have taken bold steps that could reshape the European monetary landscape. This European resolution, proposed by Éric Ciotti and members of the Republican right alliance (UDR) on October 22, 2025, centers on calling for support for the transformation of the monetary system, placing Bitcoin and euro stablecoins at the heart of the European digital money stage. This action is not only a direct challenge to the European Central Bank's digital euro project but also reflects France's strategic intent to enhance monetary sovereignty and economic freedom through encryption assets.

( Opposition to the digital euro: concerns about privacy, freedom, and financial stability

French lawmakers have issued a stern warning regarding the European Central Bank's digital euro, arguing that Central Bank Digital Currency )CBDC### poses a threat to personal privacy and economic freedom.

• Privacy and Surveillance Risks: The resolution warns that a centrally managed network would allow authorities to track and potentially freeze citizens' funds, believing that such centralized regulation could pose a significant threat to “fundamental personal freedoms.”
• Bank system stability: Legislators are concerned that adopting a digital euro could undermine the stability of the European banking system by allowing users to transfer deposits directly to the European Central Bank, potentially triggering a “bank run” and concentrating financial power in a single institution. The resolution points out that “this concentration of power would harm economic freedom” and that “acting as a commercial bank is not the responsibility of the European Central Bank.”

The European Central Bank's digital euro is currently in the preparation stage, expected to conclude by the end of 2025, with circulation possibly starting as early as 2029. France's opposing stance undoubtedly adds uncertainty to this timeline.

( Establishing a Bitcoin National Reserve: Benchmarking “National Digital Gold”

As an alternative to the digital euro, France's proposal outlines a pro-encryption agenda covering three key areas, the most notable of which is a plan to establish a national Bitcoin reserve.

According to the plan, France will establish a public administration agency responsible for managing a strategic reserve equivalent to 2% of the total supply of Bitcoin (approximately 420,000 BTC), with the goal of accumulating it within seven to eight years. The initiative aims to create a “national digital gold” reserve, thereby diversifying France's foreign exchange reserves and strengthening its financial sovereignty.

The sources of funds are mainly three: surplus energy used for public Bitcoin mining, Bitcoin seized in legal cases, and allocation of part of the Livret A and LDDS savings plans to daily Bitcoin purchases. The proposal also suggests the possibility of allowing Bitcoin to be used for tax payments, but it requires constitutional approval.

) Promote the development of the euro stablecoin to break the reliance on the dollar digital assets.

In addition to Bitcoin, the proposal also seeks to promote the use of euro-denominated stablecoins to replace the dollar-backed tokens that dominate the global market.

The document criticizes the European Central Bank's restrictive stance on euro stablecoins and urges the European Commission to revise the Regulation on Markets in Crypto-Assets ###MiCA### to facilitate the issuance of euro stablecoins by European banks and companies. Data from the International Monetary Fund shows that 91% (approximately $210 billion) of the global stablecoin market capitalization (about $230 billion) is denominated in dollars, primarily dominated by Tether (USDT) and Circle's USD Coin (USDC). In contrast, the leading euro stablecoin has a market capitalization of only $259 million. The proposal argues that this imbalance makes Europe overly dependent on American companies and calls for policies that allow euro-backed stablecoins to compete globally. The Governor of the Bank of France, François Villeroy de Galhau, had previously warned that Europe's hesitance could deepen its reliance on non-European digital currencies. Additionally, the resolution also proposes to relax Basel prudential rules to encourage banks to engage in crypto asset-backed lending.

( The implementation of MiCA is imminent: France strengthens its encryption framework.

The proposal was put forward during a critical period for the cryptocurrency industry in France. The French financial regulator Autorité des Marchés Financiers )AMF### recently authorized BPCE's subsidiary Hexarq to provide custody and trading services for crypto assets, marking another major banking institution's entry into the market. France has also approved the Lightning Stock Exchange (Lise), which is its first fully tokenized equity platform operating under the EU's distributed ledger technology (DLT) pilot scheme, demonstrating the country's growing interest in blockchain financial infrastructure. Meanwhile, French regulators are tightening scrutiny of cryptocurrency exchanges in preparation for the full implementation of the MiCA framework in the EU by 2026. Chainalysis data shows that from July 2024 to June 2025, France processed $180 billion in cryptocurrency transactions, ranking among the most active markets in Europe.

Conclusion

The resolution passed by the French National Assembly is not merely a simple rejection of the digital euro; it represents a profound reflection by major European countries on the position of encryption assets in the future global monetary system. By advocating for the establishment of Bitcoin national reserves, promoting the development of Euro stablecoins, and relaxing restrictions on crypto-backed loans, France aims to ensure that it does not fall behind the United States and Asia in the digital economy while maintaining individual freedom and financial sovereignty. This puts immense pressure on the European Central Bank and foreshadows fierce competition between stablecoins and CBDCs in the future of digital money in Europe.