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Home BlockchainVancouver Moves to Close Bitcoin Reserve Proposal After Legal Review
Blockchain

Vancouver Moves to Close Bitcoin Reserve Proposal After Legal Review

by Decrypt
written by Decrypt 0 comments
Vancouver Moves to Close Bitcoin Reserve Proposal After Legal Review

In brief

  • City staff have concluded the Vancouver Charter does not allow Bitcoin in city reserves.
  • The motion followed a late 2024 decree by Mayor Ken Sim to study crypto use.
  • Municipal finance rules keep assets like Bitcoin outside treasuries, Decrypt was told.

Vancouver staff have recommended closing a council motion that explored whether the city could become “Bitcoin-friendly,” after determining that its rules don’t allow the crypto to be held as a municipal reserve asset.

The recommendation appears…

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