A proposal could be a game changer for France’s digital currency adoption, from bitcoin to stablecoins.BTC).
When a resolution is proposed introduced on Wednesday, Éric Ciotti of the Union of the Right for the Republic led a proposal for France’s national assembly to ban the digital euro, potentially being pioneered by the European Central Bank and instead promote “the dissemination of euro stablecoins and investment in crypto-assets.”
In the motion, the US cited its efforts to promote stablecoins and ban digital currency issued by central banks (CBDCs), through the GENIUS Act that was signed into law last July.
“This proposed European resolution therefore calls on the Government to advocate for the future European prudential framework specific to cryptoasset exposures to deviate specifically from the 2022 Basel standard to facilitate the pledging of cryptoassets, while maintaining the objective of a substantial overhaul of these rules within the Basel Committee,” Said the motion.
Reports indicate that the proposal does not mention explicitly establishing a BTC national reserve. suggested Ciotti stated that the French Government would hold about $48 Billion worth of cryptocurrency at the time the article was published. A similar move would follow US efforts to create strategic BTC and cryptocurrency reserves by partly using tokens that were seized in criminal cases.
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It was the latest motion in France’s national parliament, but as of Tuesday, it did not seem to be considered. The move could affect policy related to crypto and Bitcoin. Rassemblement National, a political party in France, reportedly voted against the crypto and Bitcoin legislation. pushed for the French government BTC mining can use surplus nuclear energy.
A new country adopting crypto-reserve policies?
In addition to the US government’s efforts under President Donald Trump to develop BTC and crypto stockpiles — which could potentially be bolstered by a $14-billion seizure earlier this month — other countries have been exploring options
Kyrgyzstan lawmakers have reportedly been reported began exploring the creation After discussions with the former Binance CEO Changpeng, a reserve of digital assets was created. “CZ” Zhao works as an advisor for the government’s Crypto committee. One of Bhutan’s economic hubs announced in January its plans to build a new crypto-currency exchange. set up a strategic crypto reserveBTC, as well as other crypto-tokens.
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Source: cointelegraph.com
