Vancouver City Council Advised to Cancel 'Bitcoin-Friendly' City Plan

City officials in Vancouver, Canada have recommended terminating a study on becoming a 'Bitcoin-friendly' city. According to a report prepared by the city officials, Bitcoin does not meet the eligibility criteria for municipal investments under local laws. The plan was submitted by Mayor Ken Sim in November 2024 and approved by the city council in December of the same year.

The initiative aimed to accept cryptocurrency for taxes and fees and invest a portion of the city's financial reserves in Bitcoin. However, due to the report's conclusion, it is now uncertain whether this goal will be achieved.