"Despite the excitement, the bill faces steep political hurdles. The UDR party holds only 16 of 577 seats in France’s National Assembly, meaning broader support will be needed for the proposal to advance."
"Currently, over 90% of global stablecoins are pegged to the U.S. dollar. In contrast, euro-backed stablecoins account for less than $300 million in market capitalization. The proposal argues this imbalance leaves Europe overly dependent on U.S. companies such as Tether and Circle."
They realized that bitcoin is harder to steal than the crown jewels
The last paragraph:
"Despite the excitement, the bill faces steep political hurdles. The UDR party holds only 16 of 577 seats in France’s National Assembly, meaning broader support will be needed for the proposal to advance."
Didn't catch that the first read through.
"Currently, over 90% of global stablecoins are pegged to the U.S. dollar. In contrast, euro-backed stablecoins account for less than $300 million in market capitalization. The proposal argues this imbalance leaves Europe overly dependent on U.S. companies such as Tether and Circle."
Wow thats a statement!