🇫🇷🤑 France’s Grand Bitcoin Gambit: 2% of BTC or Bust? 🤑🇫🇷

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In a move that could only be described as the hauteur of legislative audacity, a gaggle of French lawmakers has proposed a bill so preposterously grand, it makes the Eiffel Tower look like a garden gnome. The Union of the Right for the Republic (UDR), led by the indefatigable Eric Ciotti, has tabled a crypto bill that aims to establish a national Bitcoin reserve, because nothing says “financial sovereignty” like hoarding digital gold. 🏛️✨

A Strategic Reserve of Biblical Proportions

On a Tuesday that will henceforth be known as “Bitcoin Tuesday,” the UDR unveiled its magnum opus, a bill so comprehensive it makes the Code Napoléon look like a Post-it note. Gregory Raymond, co-founder of The Big Whale (a name that screams “maritime opulence”), took to X (formerly known as Twitter, for the uninitiated) to proclaim this as the first such legislation in France. “This text,” he declared with a flourish, “contains proposals so bold, they make Donald Trump’s crypto musings look like a kindergarten doodle.” 🦀🎩

The pièce de résistance? A French Strategic Bitcoin Reserve (SBR), to be managed by a Public Administrative Establishment (EPA), because what says “efficiency” like another layer of bureaucracy? The goal: to hold 2% of the total Bitcoin supply, or 420,000 BTC, within the next 7-8 years. And how, you ask, shall this be funded? Why, by harnessing the surplus nuclear and hydroelectric power for public Bitcoin mining, of course. Because nothing says “green energy” like powering a digital gold rush. 🌩️💰

But wait, there’s more! The bill also proposes using BTC seized in legal proceedings, tax payments made in Bitcoin, and a quarter of the amounts collected through the Livret A and LDDS savings schemes for daily BTC purchases. Because if there’s one thing the French love more than cheese, it’s diversifying their reserves. 🧀📈

Stablecoins and the Euro: A Tale of Two Currencies

The bill doesn’t stop at Bitcoin. Oh no, it also encourages euro-denominated stablecoins, recognizing them as a credible alternative to traditional payment systems. Among the proposals is a €200 daily cap for euro-pegged stablecoins, exempt from taxation and social contributions. And, in a move that will surely delight tax enthusiasts everywhere, it authorizes the use of these stablecoins for paying taxes. Because nothing says “financial freedom” like paying your dues in digital currency. 🤑📉

The policy also aims to ease the Markets in Crypto-Assets Regulation (MiCA), facilitating the issuance of stablecoins by European banks and companies. Simultaneously, it seeks to oppose the euro-based Central Bank Digital Currency (CBDC) at the EU Council, which is deemed a threat to financial freedom. Because centralization is so last season. 🏦🚫

Furthermore, the bill addresses energy and financial barriers, proposing a progressive excise duty for crypto mining based on price tiers and experimenting with flexible tariffs. It also integrates Bitcoin and other crypto assets into the stock savings plan (PEA) via exchange-traded notes. Because why not throw everything but the kitchen sink into this legislative tour de force? 🛠️🔌

Raymond, ever the realist, noted that the bill’s chances of passing are about as likely as a snowball’s chance in Provence. “It’s an independent proposal with little support,” he explained, “and the UDR’s 16 MPs out of 577 don’t exactly wield a legislative sledgehammer.” But, he added with a wink, “it shows the UDR’s ambition to be the crypto ecosystem’s knight in shining armor.” 🛡️🤹‍♂️

So, will France become the Bitcoin capital of the world, or will this bill fade into legislative obscurity? Only time will tell. But one thing is certain: the UDR has certainly made a splash, even if it’s just a drop in the crypto ocean. 🌊💎

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2025-10-29 10:21