Emily Walker
The Free Democratic Party (FDP) of Germany is sharpening its attention on Bitcoin and cryptocurrency policies ahead of the parliamentary elections set for February. Its newly unveiled election manifesto, released on December 18, indicates a significant shift towards integrating digital currencies like Bitcoin into the current financial landscape, with mentions appearing five times throughout the document.
FDP Advocates for a Strategic Bitcoin Reserve
At the heart of the FDP’s agenda is a vision for modernizing financial market regulations while ensuring competitive and fair oversight. The manifesto emphasizes a commitment to “modern financial market regulation” that safeguards private creditors and provides equal opportunities for all players in the market. To facilitate this, the party proposes enhancing the role of the German Federal Financial Supervisory Authority (BaFin) to better promote FinTech and cryptocurrency innovations.
The FDP also aims for Germany’s approach to cryptocurrency regulation to be in line with broader European standards. They argue that German regulations should not surpass the “European minimum requirements,” suggesting that excessively rigid national rules could weaken competitiveness. The party hints at a reassessment of the proportionality of existing regulations, cautioning that overly strict measures might stifle innovation and push promising businesses to relocate within the EU.
Significantly, the FDP is “open” to the possibility of the European Central Bank (ECB) and the German Bundesbank including Bitcoin in their currency reserves. While the manifesto does not elaborate on the details or timing of such an initiative, it frames the adoption of a Bitcoin reserve as a forward-thinking strategy.
According to the election program, “We are open to the European Central Bank and the German Bundesbank using cryptocurrencies such as Bitcoin as currency reserves. This can strengthen the resilience of the European monetary system.”
The FDP’s platform also emphasizes a balance between embracing digital advancements and retaining traditional monetary practices. It supports continuing the use of cash, encourages wider acceptance of card payments, and envisions a digital euro that prioritizes user privacy and operates on a voluntary basis.
The party insists that any rollout of digital central bank money should safeguard users’ privacy. They demand, “A digital euro that complements cash must respect users’ privacy and be usable both online and offline. There should be no obligation to use the digital euro, and it must not introduce additional risks to the financial system.”
This shift towards a crypto-friendly stance follows recent comments by FDP leader and former finance minister Christian Lindner, who highlighted the need for Germany to keep pace with “innovations.” He criticized Germany’s position compared to the forthcoming U.S. administration under President-elect Donald Trump, which he believes may leverage “advantages that we could also have with Bitcoin.” Although Lindner did not specifically propose the creation of a Bitcoin reserve at that time, his remarks signified a turning point.
The FDP’s propositions have already caught the attention of influential figures in the European technology sector. Prominent entrepreneur and tech investor Frank Thelen publicly endorsed the party’s approach on X, stating, “First pro-crypto party in Germany @FDP. Imho a good addition to the existing currency reserves.”
As of the latest update, Bitcoin is trading at $102,388.