Vancouver City Council has approved a motion to explore integrating Bitcoin into the city’s financial operations. The proposal, which is under consideration until the first quarter of 2025, includes the possibility of creating a Bitcoin reserve and payment option. The mayor of the city, Ken Sim, strongly supported the motion, arguing that it would protect against inflation and currency depreciation.
Six council members supported the motion, two opposed it, and three did not attend the meeting. Sim called for a report by the end of the first quarter of 2025 on a Bitcoin-friendly city strategy, including the feasibility, risks, and potential benefits of adoption.
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