French lawmakers have taken a significant step against the European Central Bank’s (ECB) plans for a digital euro, adopting a resolution that calls for the French government to reject the CBDC. Introduced by members of the Union of the Right for the Republic (UDR), the resolution champions a pro-crypto national strategy centered on Bitcoin and euro-denominated stablecoins.
🛡️ Why France is Resisting the Digital Euro
The resolution, titled “Proposal for a European Resolution Calling for Support for the Transformation of the Monetary System,” strongly argues that the digital euro poses a major threat to individual privacy and economic freedom.
- Privacy & Control: Lawmakers compared the potential centralized oversight to China’s digital yuan, warning that a centrally managed network would enable authorities to track and potentially freeze citizens’ funds.
- Banking System Risk: They also cautioned that the digital euro could destabilize the European banking system by allowing a direct shift of deposits to the ECB, potentially triggering a “bank run” and concentrating excessive financial power in one institution.
- Timeline: This opposition comes as the ECB’s digital euro project is in its preparation phase, with a potential circulation date projected around 2029.
💰 France’s Bold Pro-Crypto Agenda
Instead of the CBDC, the French resolution lays out a sweeping agenda with three key pillars designed to strengthen financial sovereignty and compete in the digital economy:
- Creating a National Bitcoin Reserve: France proposes establishing a public administrative body to manage a strategic Bitcoin reserve equivalent to 2% of the total Bitcoin supply (roughly 420,000 BTC), to be accumulated over seven to eight years. The goal is to build a “national digital gold” reserve and diversify foreign exchange holdings. Funding would come from public mining, seized Bitcoin, and allocating a portion of national savings schemes. The plan even introduces the possibility of allowing tax payments in Bitcoin.
- Promoting Euro-Denominated Stablecoins: The motion urges the European Commission to revise the MiCA regulation to make it easier for European banks to issue euro-denominated stablecoins. This is a direct response to the current market, where U.S. dollar-backed stablecoins (like USDT and USDC) account for 91% of global stablecoin capitalization, leaving Europe dependent on U.S. firms.
- Supporting Domestic Crypto Industry: Lawmakers are calling for easing the restrictive Basel prudential rules, which currently impose high capital requirements on some crypto-backed loans (up to 1,250%). A “targeted deviation” from the Basel standard is sought to make crypto-collateralized lending more attractive for banks.
🏛️ France’s Regulatory Position
This resolution coincides with significant activity in the French crypto space:
- Financial Innovation: The national financial regulator (AMF) recently authorized BPCE’s subsidiary, Hexarq, to offer crypto custody and trading, and approved the Lightning Stock Exchange (Lise), the country’s first fully tokenized equity platform.
- Increased Scrutiny: Simultaneously, French regulators are intensifying anti-money laundering (AML) inspections on firms like Binance and Coinhouse as they prepare for the full implementation of the EU MiCA framework by 2026.
This move positions France at the forefront of a European debate, favoring decentralized crypto-assets and national sovereignty over a centralized digital currency.
October 2025, Cryptoniteuae
