Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Markets>
Bitcoin Updates: France Embraces Bitcoin and Stablecoins While ECB Advances Digital Euro Plans

Bitcoin Updates: France Embraces Bitcoin and Stablecoins While ECB Advances Digital Euro Plans

Bitget-RWA2025/10/31 20:02
By: Bitget-RWA
- ECB accelerates digital euro plan for 2029 rollout to modernize eurozone finance and reduce cash reliance. - French lawmakers oppose it, citing privacy risks and advocating crypto/stablecoins as alternatives. - Global CBDCs advance, with Hong Kong’s e-HKD pilot and U.S. stablecoin-friendly policies. - Stablecoins like USDC gain traction, outpacing USDT with regulatory compliance and institutional adoption.

The European Central Bank (ECB) is moving forward with its digital euro initiative, aiming for a possible launch in 2029 as part of efforts to update the eurozone’s financial systems and decrease dependence on cash.

President Christine Lagarde revealed in late October that the Governing Council has entered the "final stage" of the project, stressing the importance of digitizing money while maintaining "confidence in our shared future," according to a . The digital euro, a central bank digital currency (CBDC), is intended to work alongside physical cash and allow for smooth transactions both online and offline throughout the eurozone.

Despite these plans, the ECB is encountering opposition within Europe. Lawmakers in France recently passed a resolution against the digital euro, raising issues about privacy, personal economic freedom, and the dangers of centralized oversight. The National Assembly approved a measure urging the government to reject the ECB’s proposed rules and instead support euro-based stablecoins and a national

reserve, as outlined in . The resolution, led by members of the Union of the Right for the Republic (UDR), cautioned that a CBDC could let authorities monitor and freeze citizens’ assets, drawing parallels to China’s digital yuan. Lawmakers also warned that a digital euro might threaten the banking sector by enabling direct transfers to the ECB, which could spark a "bank run" and concentrate financial authority in one entity.

Bitcoin Updates: France Embraces Bitcoin and Stablecoins While ECB Advances Digital Euro Plans image 0

The ECB’s digital euro project, which started in November 2023, is estimated to require €1.3 billion ($1.5 billion) in funding through 2029, with yearly operating costs projected at €320 million ($369 million), according to the Decrypt article. Should the European Parliament approve the necessary laws by 2026, a pilot could begin in mid-2027, with a full launch in 2029. Meanwhile, France’s crypto-friendly stance includes calls for a Bitcoin reserve, fostering local crypto development, and backing stablecoins as alternatives to the ECB’s CBDC.

The discussion around CBDCs is unfolding alongside the rapid growth of stablecoins, which are increasingly challenging central bank initiatives. JPMorgan analysts observed in a recent

that Circle’s stablecoin has surpassed Tether’s in both on-chain activity and market value, driven by regulatory clarity and institutional uptake. USDC’s market capitalization rose 72% so far this year, compared to USDT’s 32%, benefiting from MiCA regulations in Europe and partnerships with payment giants like Visa and Mastercard. , the top stablecoin provider, reported annual profits of over $10 billion as of September 2025, holding $135 billion in U.S. Treasuries and $10 billion in Bitcoin reserves, as detailed in . The company also revealed plans to introduce a new U.S.-centric stablecoin, USAT, in partnership with Anchorage Digital.

On a global scale, CBDC projects are advancing in various regions. Hong Kong’s e-HKD initiative finished its second pilot in 2025 and is targeting a 2026 launch. This effort, part of the broader "Digital HKD Plus" program, seeks to set standards for programmable digital currencies. In contrast, the United States has prohibited CBDCs domestically via executive order, but has supported stablecoins through legislation such as the GENIUS Act, the Decrypt article reported.

The ECB’s digital euro and the expanding role of stablecoins mark a significant turning point in global finance, as innovation is weighed against concerns about privacy, national control, and systemic stability.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

XRP News Today: XRP ETFs Close to Getting Approved as Companies Overcome SEC Obstacles

- Franklin Templeton removed the SEC's 8(a) delay clause from its XRP ETF filing, aiming for a potential launch this month. - Competitors like Bitwise and Canary Funds similarly revised filings, signaling industry-wide urgency to capitalize on regulatory clarity. - The SEC's recent Ripple settlement removes a major hurdle, with experts predicting XRP ETF approval by mid-November. - XRP ETFs could replicate Bitcoin ETF success by offering institutional-grade access to the third-largest cryptocurrency.

Bitget-RWA2025/11/05 05:48
Solana News Update: Core Values or Hype? Solana's Ecosystem Divides the Crypto Community

- Solana's BONK token struggles with 57% price drop vs. MoonBull ($MOBU)'s $550K presale surge as high-risk 1000x play. - Hyperliquid's 65% HYPE token boost via $780M buyback contrasts BONK's failed $26.65M buyback due to lack of utility and revenue. - Bonk, Inc. emerges as institutional gateway to Solana's $3B-revenue ecosystem, bridging meme coins with regulated markets through token scarcity. - MoonBull's 7,244% projected gain and aggressive 27.4% stage jumps highlight speculative frenzy despite Solana'

Bitget-RWA2025/11/05 05:48
YFI rises 1.75% on NOV 5 2025 During Brief Pullback and Sustained Upward Trend

- YFI surged 1.75% on Nov 5, 2025, but faces 6.51% weekly/monthly declines and a 44.94% annual drop. - Market remains volatile short-term yet retains long-term bullish momentum from multi-year trends. - Mixed technical indicators show daily RSI recovery but weekly oversold conditions and positive MACD divergence. - A backtest strategy evaluates YFI's rebound potential after 10% single-day drops using 2022 historical data.

Bitget-RWA2025/11/05 05:40

Trending news

More
1
XRP News Today: XRP ETFs Close to Getting Approved as Companies Overcome SEC Obstacles
2
Solana News Update: Core Values or Hype? Solana's Ecosystem Divides the Crypto Community

Crypto prices

More
Bitcoin
Bitcoin
BTC
$101,733.22
-2.63%
Ethereum
Ethereum
ETH
$3,326.72
-5.14%
Tether USDt
Tether USDt
USDT
$1
+0.03%
XRP
XRP
XRP
$2.24
-0.75%
BNB
BNB
BNB
$945.81
-0.66%
Solana
Solana
SOL
$157.26
-0.98%
USDC
USDC
USDC
$0.9998
-0.00%
TRON
TRON
TRX
$0.2853
+1.54%
Dogecoin
Dogecoin
DOGE
$0.1649
+1.93%
Cardano
Cardano
ADA
$0.5338
-0.44%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter