French Lawmaker Signs Petition to Allow Central Bank to Buy and Hold Bitcoin – Regulation Bitcoin News

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A French MP has signed a petition to change the laws that allow the French central bank to buy and hold bitcoin and other cryptocurrencies. The petition urges lawmakers to look into the matter urgently and warns that lack of ownership of Bitcoin will “place France in a financially weak position within five to ten years.”

Petition to allow the central bank to buy bitcoin

Jean-Michel Mis, a member of the French National Assembly, the lower house of parliament, announced in a tweet on Friday that he had signed a petition to change the law to allow the Banque de France, the country’s central bank, to buy and hold Bitcoin as well as other cryptocurrencies.

The petition on the French Senate’s e-petition platform was launched on March 5th by François-Xavier Marie Jean Elder Thoorens. It can be signed until September 5th. Petitions with at least 100,000 signatures within six months will be forwarded to the Conference of Presidents, which will decide whether to pursue the matter. At the time of writing, 583 signatures have been received.

“Many companies have now acquired large sums of money (in the order of several billion euros) in Bitcoin,” says the petition, in which Michael Saylor’s micro-strategy and Elon Musk’s Tesla are named as examples. It goes on to say, “Some public institutions like the Mayor of Miami are positioning themselves to buy Bitcoin.”

“The reason given is the risk that a weak dollar will destroy medium-term funding capacity over the next 5 years,” the petition continues, adding:

France cannot remain decent as an observer of a race that has already started. If you don’t own Bitcoin, it will be placed in a financially weak position within 5-10 years. There is an urgent need to take the matter up.

Stressing the need for France to adopt a strategy in this area and to apply existing laws to implement it, the petitioner wrote: “I am therefore proposing an update of the Monetary and Financial Code to enable the Banque de France to buy , Sell and Sell Have bitcoins and other crypto assets ready. “

The petition also points out that the legislature “must adopt a strategy that correctly assesses the risks and, when using this strategy, proposes appropriate conditions for holding crypto assets”.

Do you think the French central bank will buy and hold Bitcoin? Let us know in the comments below.

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