France Challenges Digital Euro in Favor of Euro Stablecoins
France has taken a decisive step in the digital currency debate with a new parliamentary resolution opposing the European Central Bank's digital euro project. The proposal, filed by Éric Ciotti, advocates for a bank-led stablecoin framework under MiCA regulations—emphasizing 1:1 reserves, yield prohibitions, and instant redemption features.
The resolution marks a strategic divergence from EU policy, positioning France to champion private-sector euro stablecoins as the foundation for tokenized finance. "Rules must evolve to finance a tokenized economy," the text argues, suggesting current digital euro designs could stifle innovation.
Notably, the proposal references successful global stablecoin models, implying competitive concerns in the race for digital financial infrastructure. This development signals growing institutional recognition of stablecoins' role in bridging traditional finance and blockchain ecosystems.
