Introducing Kite (KITE) on Binance Launchpool! Farm KITE by Locking BNB, FDUSD and USDC
Published on 2025-10-31 10:09
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Fellow Binancians,
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#FranceBTCReserveBill French Parliament Proposes New Cryptocurrency Law: Establishing National Bitcoin Reserves, Plans to Purchase 2% of Global Supply
ForesightNews2025/10/30 06:02
By: ForesightNews
BTC-2.36%BARD-0.95%
According to the proposed bill, France aims to purchase 2% of the total Bitcoin supply, approximately 420,000 Bitcoins, within the next seven to eight years.
According to the proposed bill, France aims to purchase 2% of the total bitcoin supply, approximately 420,000 bitcoins, within the next seven to eight years.
Written by: Li Jia Source: Wallstreetcn
The French cryptocurrency sector has seen a major breakthrough, as a supportive bill has been submitted to the French parliament. On October 29, according to media reports, the bill was introduced by the UDR party led by MP Éric Ciotti. It advocates for the establishment of a national bitcoin strategic reserve and grants it the status of "digital gold" to strengthen financial sovereignty.
According to journalist Gregory Raymond, as cited by the media, the proposed bill sets France’s goal to acquire 2% of the total bitcoin supply, about 420,000 bitcoins, over the next seven to eight years. At the same time, the bill plans to establish a dedicated public institution to manage this reserve, structured similarly to France’s existing gold and foreign exchange reserve management system.
The bill also proposes utilizing surplus nuclear and hydropower energy for public bitcoin mining, and allowing citizens to pay part of their taxes in bitcoin.
Objectives and Funding Sources
To establish the bitcoin reserve, the bill outlines diversified funding sources.
First, the bill suggests using France’s surplus nuclear and hydropower generation for public bitcoin mining operations. This continues the idea from a proposal in July this year, which aimed to convert surplus electricity into economic value through bitcoin mining, addressing the "unacceptable economic and energy losses" caused by having to sell excess electricity at a discount due to overproduction in France.