Vancouver Moves Towards Bitcoin Integration in Finance

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Vancouver’s city council has approved a motion to explore Bitcoin integration into its financial strategies. Proposed by Mayor Ken Sim, the initiative includes accepting taxes and fees in Bitcoin and allocating a portion of the city’s financial reserves into the cryptocurrency. The motion highlights Bitcoin’s potential to protect purchasing power from inflation and currency volatility. Mayor Sim described Bitcoin as “the greatest invention in human history.” City staff will assess the feasibility and risks of this move and report back by Q1 2025. The decision comes amidst growing optimism in the crypto market following pro-crypto candidate Donald Trump’s reelection as U.S. President, boosting hopes for favorable regulations.