【Canada's Vancouver Mayor Plans to Launch 'Bitcoin Friendly City' Initiative】

According to reports, Ken Sim, who has been the Mayor of Vancouver since 2022, announced that the city plans to add Bitcoin to its balance sheet as part of its efforts to diversify its investments.

During the Vancouver City Council meeting held on November 26, Mayor Sim submitted a motion notice, which is set to be proposed 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's website, and the Vancouver Mayor's Office declined to comment.

It remains unclear whether the Mayor's motion is a response to U.S. local and federal governments considering legislation to establish Bitcoin reserves. After the 2024 elections, legislators in Pennsylvania's House of Representatives and the U.S. Senate have proposed plans for the government to hold Bitcoin as a reserve asset.