Taken together, these developments show France taking a more assertive role in shaping Europe’s crypto policy under frameworks like MiCA. By pushing limits on stablecoins and increasing scrutiny of self-custody holdings, policymakers are signaling a move toward stronger regulation and closer monitoring of digital assets.

The debate comes at a key moment for the industry, as Europe balances innovation with control. With events like Paris Blockchain Week bringing global attention to the region, France’s stance could influence how the EU evolves its approach to crypto in the years ahead.