Lawmakers in France are poised to evaluate a significant proposal regarding the nation’s strategy for adopting digital currencies, including Bitcoin and stablecoins.

Éric Ciotti, a member of the Union of the Right for the Republic, introduced a motion to the national assembly that seeks to ban the digital euro, an initiative possibly led by the European Central Bank, in favor of promoting euro stablecoins and crypto-assets investments.

The motion draws parallels with actions taken by the United States, which has been striving to impede the development of central bank digital currencies (CBDCs) while enhancing stablecoin adoption through the GENIUS Act implemented in July.

“This proposed European resolution therefore calls on the Government to champion a unique European prudential framework for crypto-asset exposures, distinctly diverging from the 2022 Basel standard for easier crypto asset pledges, while aiming for substantial alterations of these standards within the Basel Committee,” the motion states.

[Translation: “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.”]

The proposal does not explicitly advocate creating a national Bitcoin reserve, though reports have indicated that Ciotti aims to have the French government hold 2% of BTC’s total supply, which could be valued at approximately $48 billion at the time of writing. This move would align with U.S. efforts to create strategic Bitcoin reserves, partly through tokens seized in criminal cases.

Source: French National Assembly

The resolution, which had not yet been examined by lawmakers as of Tuesday, is the latest development in France’s national assembly regarding cryptocurrency policy. In August, the Rassemblement National party recommended that the French government mine Bitcoin using excess energy from nuclear power facilities.

Is Another Country Embracing Crypto Reserves?

In addition to the U.S.’s attempts under former President Donald Trump to build a stockpile of Bitcoin, Kyrgyzstan’s lawmakers are reportedly considering creating a digital asset reserve after discussions with ex-Binance CEO Changpeng “CZ” Zhao, who now serves as an advisor to the country’s crypto committee. Bhutan has also indicated plans to establish a strategic crypto reserve encompassing Bitcoin and other cryptocurrencies.