Vancouver Moves Towards Bitcoin Integration in Finance
Vancouver City Council has approved a motion to explore incorporating Bitcoin into its financial strategy. The initiative, proposed by Mayor Ken Sim, includes accepting Bitcoin taxes and fees and allocating a portion of the city’s financial reserves into the cryptocurrency. The motion highlights Bitcoin’s potential to protect purchasing power from inflation and currency fluctuations. Mayor Sim described Bitcoin as “the greatest invention in human history.” City staff will assess the feasibility and risks of this move and report back by the first quarter of 2025. The decision comes amid growing optimism in the cryptocurrency market following the re-election of pro-crypto candidate Donald Trump as U.S. president, raising hopes for favorable regulation.
