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French lawmaker Eric Ciotti has unveiled legislation proposing a national Bitcoin reserve of 420,000 BTC—representing 2% of Bitcoin’s total supply—to be accumulated over seven years through state mining operations, seized assets, and market purchases, alongside measures promoting euro-denominated stablecoins for everyday transactions.
According to preliminary details, the France crypto bill envisions the creation of a public Bitcoin treasury of 420,000 BTC representing 2% of the total Bitcoin supply. If enacted, this would make France one of the largest institutional Bitcoin holders, comparable to major corporate accumulators such as MicroStrategy.
The reserve would be accumulated gradually over seven to eight years, managed by a Public Administrative Establishment (EPA). The EPA would acquire Bitcoin through state mining operations, the conversion of seized assets, and direct market purchases.
“The goal of the France crypto bill is to ensure national financial independence in a digital age,” Ciotti said in a statement shared with reporters. “By diversifying France’s reserves into Bitcoin and encouraging euro-denominated stablecoins, we aim to strengthen economic resilience.”
At the heart of the France crypto bill lies the plan to build a Bitcoin treasury using both public and private mechanisms. The government would harness excess energy production for state-managed mining operations, offering favorable tax terms and energy access to mining firms.
Reports suggest that France could allocate around €15 million per day for Bitcoin accumulation, equating to roughly 55,000 BTC per year if fully implemented. The fund would also absorb Bitcoin seized during legal actions, such as the confiscations from the defunct DFAS dark web case, which have already contributed to state holdings.
“This initiative demonstrates how Bitcoin can be integrated responsibly into national financial infrastructure,” said Claire Joubert, an analyst at L’Observatoire de la Blockchain, in a media briefing. “The France crypto bill outlines a long-term vision not for speculation, but for sovereign reserve diversification.”
France’s mining efforts would still face challenges, including shrinking block rewards and heightened global competition for hash power. However, the bill anticipates this by calling for a flexible tax regime for mining data centers and prioritizing low-cost renewable energy partnerships.
Beyond Bitcoin, the France crypto bill introduces provisions for the development of euro-denominated stablecoins to complement the national payments ecosystem. The measure positions stablecoins as a regulated alternative to debit cards and bank transfers, suitable for daily transactions and public-sector payments.
The bill proposes setting a €200 ceiling for tax-exempt stablecoin transactions and permits the use of stablecoins to pay government taxes and fees. It also encourages French banks and fintechs to issue compliant stablecoins under MiCA (Markets in Crypto-Assets Regulation) while advocating flexibility for local issuers.
If enacted, the France crypto bill would align with a broader European push toward digital payment innovation while carving out national autonomy within EU-wide crypto frameworks.
The France crypto bill also seeks to integrate cryptocurrency into the traditional financial system through tax incentives, collateral acceptance, and expanded market access. Under the proposed law, Bitcoin could serve as collateral for government-backed loans, while crypto exposure for retail investors would be available via exchange-traded notes (ETNs).
The legislation outlines a path for regulated energy access for miners and digital infrastructure providers, classifying data centers as critical national assets. Moreover, it introduces a favorable taxation model for crypto enterprises contributing to domestic energy efficiency.
While France already boasts a thriving blockchain ecosystem, regulatory caution has previously limited projects such as Polymarket and decentralized prediction markets. The France crypto bill, however, focuses on financial integration, signaling a shift toward pragmatic adoption.
The France crypto bill reflects a maturity in policy thinking, said Dr. Antoine Lefèvre, professor of economics at Université Paris Dauphine. It’s no longer about regulating crypto out of fear but about channeling it toward national growth and innovation.
Despite its ambitious scope, analysts warn that the France crypto bill faces an uphill battle in parliament. The UDR party currently wields limited influence, making the bill’s full passage uncertain. Nonetheless, the proposal has already succeeded in mainstreaming crypto policy discussions within France’s political landscape.
Experts believe the bill could inspire similar measures across Europe, especially as countries reassess their role in the evolving digital currency economy.
Even if it fails to pass, the France crypto bill underscores a crucial ideological shift viewing Bitcoin and stablecoins as potential pillars of financial sovereignty rather than threats to stability.
