Consider Reserving! Vancouver will build a BTC-friendly city, and the mayor praises BTC as a great invention.

Vancouver, Canada has recently implemented a groundbreaking policy. The city council has officially passed a proposal to explore how to make Vancouver a Bitcoin-friendly city. They will evaluate the establishment of Bitcoin reserves and the acceptance of Bitcoin as a payment method for taxes and municipal fees.

This proposal was put forward by Vancouver Mayor Ken Sim, emphasizing the diversification of Vancouver’s financial reserves and payment options, and incorporating Bitcoin (BTC) into them. The proposal states:

It would be extremely irresponsible if the City of Vancouver does not carefully assess the value of BTC as a strategic asset to maintain the stability of municipal finances.

The city council is asking the city government team to submit a feasibility report on creating a “BTC-friendly city” strategy by the end of the first quarter of 2025, and propose specific implementation plans.

This proposal marks a significant shift in Vancouver’s BTC policy. Looking back at 2019, former Mayor Kennedy Stewart attempted to ban BTC ATMs altogether, while Vancouver is precisely where the world’s first BTC ATM was born.

The proposal emphasizes that allocating part of the financial reserves to BTC will help Vancouver maintain financial stability and purchasing power in the face of volatility, depreciation, and inflationary pressures of traditional currencies.

The proposal goes further to state, ‘Diversifying the city’s financial reserves and payment options to include Bitcoin not only enhances the resilience of the city’s financial structure, but also benefits all taxpayers in the end.’

Vancouver Mayor Ken Sim has publicly stated in the past that BTC is the “greatest invention in human history,” and this attitude is reflected in the policies he leads.

【Disclaimer】There are risks in the market, and investment needs to be cautious. This article does not constitute investment advice. Users should consider whether any opinions, perspectives, or conclusions in this article are suitable for their specific situation. Invest at your own risk.

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Consider reserves! Vancouver will build a BTC-friendly city, and the mayor praises BTC as a great invention. This article was first published in ‘Cryptocity’.