France Introduces Comprehensive Crypto Bill Focused on Bitcoin Strategic Reserve
A pro-crypto bill tabled today in the French Parliament by the centre-right Union of the Right and Centre (UDR) party, led by lawmaker Éric Ciotti, marks the first time such a comprehensive legislative proposal on cryptocurrency has been introduced in France. The initiative calls for a national Bitcoin Strategic Reserve, aiming to position the cryptocurrency as a form of “digital gold” to strengthen financial sovereignty.
The proposal would see France acquire up to 2% of Bitcoin’s total supply — roughly 420,000 BTC — over the next seven to eight years. To manage the reserve, the bill envisions the creation of a Public Administrative Establishment (EPA), similar in structure to France’s gold and foreign-currency holdings. Funding would come from multiple sources: surplus nuclear and hydroelectric energy for public Bitcoin mining with adapted taxation for miners; retention of crypto seized during legal proceedings; and a quarter of funds collected via popular savings schemes such as Livret A and LDDS would be allocated to daily Bitcoin purchases — approximately €15 million per day, or 55,000 BTC per year. Pending constitutional approval, citizens could also pay certain taxes in Bitcoin.
Leveraging Surplus Energy for Bitcoin Mining
Back in July, French lawmakers submitted a proposal to convert surplus electricity—particularly from nuclear and renewable sources—into economic value through Bitcoin mining. The bill outlined a five-year experimental program allowing energy producers to use excess power for mining, addressing France’s recurring issue of energy overproduction where producers were forced to sell surplus electricity at a loss due to limited storage. The new bill integrates mining directly into the strategic reserve framework, providing a sustainable source of Bitcoin acquisition while solving energy waste.
Stablecoin Payments and Opposition to Digital Euro
The bill emphasizes the use of euro-denominated stablecoins for everyday payments, recognizing them as a credible alternative to traditional payment networks. Transactions under €200 would be exempt from taxation and social contributions, and payment of taxes in euro stablecoins would be allowed. The proposal explicitly opposes a European Central Bank-controlled digital euro, arguing that a centralized CBDC could threaten financial freedoms and personal privacy.
Institutional Adoption and Regulatory Reforms
To support industry development, the legislation proposes adapting electricity taxation for mining through a progressive excise duty and flexible tariffs for data centers. It encourages institutional adoption of Bitcoin and other crypto-assets via Exchange Traded Notes (ETNs) and calls for revisions to European prudential rules, which currently impose high risk-weightings on certain crypto-assets, limiting their use as collateral for “Lombard” loans.
Political Reality: Uphill Battle Ahead
Despite its ambitious scope, the bill faces steep political hurdles. The UDR holds only 16 of 577 seats in the National Assembly, making adoption unlikely without broader support. While the proposal signals growing political interest in crypto strategic reserves in Western nations, its immediate implementation remains highly uncertain.