Vancouver's city council has approved a motion to explore integrating Bitcoin into the city's financial strategy following a proposal by Mayor Ken Sim. The decision aims to diversify the city's financial portfolio and address issues related to fiat currency volatility and inflation. The motion includes creating a Bitcoin reserve and allowing BTC as a payment option for taxes and city fees to enhance financial stability. This marks a significant shift from previous policies, such as a past attempt to ban Bitcoin ATMs. The council has directed city staff to evaluate the feasibility of adopting Bitcoin, with a report expected by Q1 2025. Mayor Sim, a strong advocate for Bitcoin, sees it as a valuable addition to public finance. Vancouver's move towards Bitcoin integration reflects a growing global optimism in the cryptocurrency sector and may position the city as a leader in municipal crypto adoption. Read more AI-generated news on: https://app.chaingpt.org/news

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