"The proposed legislation, which is far from approved, would see France aim to acquire up to 2% of Bitcoin's total supply - roughly 420,000 BTC - over the next seven to eight years, according to the legislation and according to journalist Gregory Raymond. To manage the reserve, the bill envisions the creation of a Public Administrative Establishment (EPA), similar in structure to France's gold and foreign-currency holdings."
"Funding for the Bitcoin reserve would come from multiple sources. Surplus nuclear and hydroelectric energy would power public Bitcoin mining operations, with adapted taxation for miners to encourage domestic participation. Back in July, French lawmakers submitted a proposal to convert surplus electricity into economic value through Bitcoin mining. The bill outlined a five-year experimental program allowing energy producers to use excess power - particularly from nuclear and renewable sources - for mining."
A pro-crypto bill will be tabled in the French Parliament by the center-right Union of the Right and Centre (UDR) led by lawmaker Éric Ciotti. The bill calls for a national Bitcoin Strategic Reserve to position Bitcoin as "digital gold" and bolster financial sovereignty. France would aim to acquire up to 2% of Bitcoin's supply—about 420,000 BTC—over seven to eight years. Management would be via a Public Administrative Establishment (EPA) modelled on gold and foreign-currency holdings. Funding sources include surplus nuclear and hydroelectric energy used for public mining, miner tax adaptations, seized crypto retention, and allocations from popular savings schemes.
Read at Bitcoin Magazine
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