2024.11.27 -- The Bitcoin Coalition of Canada (BCC) commends Vancouver Mayor, Ken Sim, and members of Vancouver City Council for steps taken this week to begin updating and improving the city's stewardship of public resources, improving future opportunity and wellbeing for city residents.
Yesterday, Mayor Ken Sim announced that he will be officially tabling a motion titled "Preserving the City's Purchasing Power Through Diversification of Financial Resources; Becoming a Bitcoin Friendly City" during the proceedings of the city's Standing Committee on City Finance and Services on December 11, 2024. Once approved by City Council, the motion will authorize Council and City of Vancouver staff to begin studying and implementing measures outlined in the motion, including adding Bitcoin (BTC) to the city's treasury holdings.
"This step forward reflects tremendous vision and leadership from Mayor Sim and Vancouver City Council," noted BCC Executive Director, Scott Wolfe. "Not only will it improve Vancouver's financial outlook into the future, it will further unleash the many economic, social, and environmental benefits to Vancouver residents of being Canada's most Bitcoin friendly city to date."
Over the past decade, Vancouver has emerged as the top jurisdiction across Canada for innovation in business, community development, and social impact through Bitcoin. This includes a vibrant and diverse Bitcoin education and collaboration community; a growing roster of more than 100 local businesses accepting and transacting in Bitcoin (BTC); and numerous Bitcoin-focused businesses, such as Bitcoin data centres, which have made the Vancouver region home.
Further adoption and use of Bitcoin in Vancouver, including by the City itself, will send an important signal to other Canadian jurisdictions and the global community that Vancouver is positioned as a premier destination of today and tomorrow.
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The Bitcoin Coalition of Canada (BCC) is a registered not-for-profit entity whose mission is to increase awareness and education -- for the public, media, and policymakers -- about Bitcoin's positive impact and its many benefits for both Canada and the world. These include financial inclusion, bolstering human rights, increasing employment, spurring community economic development, and advancing climate action. For more information see Why Bitcoin?
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