French lawmakers urge EU to create strategic Bitcoin reserves

French Member of the European Parliament (MEP) Sarah Knafo gave a speech urging the EU to adopt a "strategic bitcoin reserve" as part of broader measures to promote financial autonomy and combat inflationary pressures. Knafo is a French magistrate and member of the Court of Auditors, whose background includes public service and political consulting. In her speech to Parliament, Knafo cited global cases, including El Salvador's early adoption of Bitcoin, as well as statements from politicians such as Trump and Federal Reserve Chairman Powell, to emphasize that the wave of institutional acceptance of Bitcoin is rising. She asserted that the EU's current financial strategy puts member states at a disadvantage in a rapidly evolving monetary landscape and criticized existing regulations as being too strict. She went on to advocate for the EU's thriving Bitcoin mining industry and said France's nuclear energy infrastructure could provide a competitive advantage. Knafo also spoke about the need to adjust current tax policies, urging lawmakers to "stop taxing cryptocurrency holders" and emphasizing that crypto asset holders take personal risks to create wealth. (Bitcoinist)