The European Parliament’s Industry, Research and Energy (ITRE) committee approved a proposal for tech sovereignty legislation on June 3rd, with plans for a plenary vote in July. The initiative, spearheaded by Member of Parliament Sarah Knafo, aims to bolster Europe’s technological competitiveness against rivals like the US and China. Key components include removing barriers to private investment in technology, developing energy-efficient computing and blockchain infrastructure, and ensuring robust digital financial privacy protection. Knafo, who has previously opposed a digital euro and advocated for a Bitcoin strategic reserve, highlighted that the proposal could pass with support from right-wing parties, while left-wing groups are pressuring centrists to block it. Meanwhile, European Central Bank President Christine Lagarde dismissed the idea of a Bitcoin reserve in January 2025, emphasizing the importance of central bank reserves for liquidity and stability. Analysts remain cautious regarding the proposal’s ultimate success, suggesting that significant changes may be influenced more by individual member states.