Odaily Planet Daily News Since taking office as mayor of Vancouver in 2022, Ken Sim announced that the city of Vancouver plans to add Bitcoin to its balance sheet as part of its efforts to diversify investments. At the Vancouver City Council meeting held on November 26, Mayor Sim submitted a motion notice, scheduled to be presented on December 11, titled 'Maintaining the City’s Purchasing Power Through Financial Resource Diversification: Becoming a Bitcoin-Friendly City.' As of November 27, the motion does not appear to have been published on the city government website, and the Vancouver mayor's office declined to comment. It is unclear whether the mayor's motion is a response to local and federal government considerations in the United States to legislate the establishment of Bitcoin reserves. After the 2024 elections, legislators in the Pennsylvania House of Representatives and the U.S. Senate proposed plans for the government to hold Bitcoin as a reserve asset.

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