French lawmakers are reviewing a proposal that could shape the country’s approach to cryptocurrencies.
Introduced by Éric Ciotti from the Union of the Right for the Republic, the proposal recommends that France avoid adopting the digital euro being developed by the European Central Bank.
Instead, it encourages the use of euro-backed stablecoins and greater involvement in crypto-assets.
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The motion also refers to similar actions in the United States. It highlights the GENIUS Act, a US bill that supports stablecoins and opposes central bank digital currencies (CBDCs).
The French proposal asks the government to push for more flexible rules around how banks and financial institutions handle crypto-assets. This includes moving away from the stricter 2022 Basel standards to allow easier use of cryptocurrencies in financial operations.
Although the text does not directly call for the French government to buy Bitcoin
The proposal outlines three main points: stop the development of a digital euro, support stablecoin use within the eurozone, and update financial regulations to better accommodate crypto-assets.
If accepted, this approach could advance France toward a model that balances innovation with oversight.
The Canadian government is working on new rules for stablecoins, with an announcement likely to be included in next week’s federal budget. What do the rules cover? Read the full story.
