Uk news
Uk news The circulation requires the integration of bitcoin into Vancouver’s monetary systems, in conjunction with establishing a bitcoin reserve.
Dec 12, 2024, 5:02 a.m. UTC
Vancouver, British Columbia’s metropolis council has passed a circulation to explore the chance of accepting bitcoin (BTC) for charge of taxes and charges as successfully as establishing a bitcoin reserve.
The circulation, ready by Mayor Ken Sim, requires “diversifying the City of Vancouver’s financial reserves and payment options to include bitcoin.”
“It would be irresponsible for the City of Vancouver to not look at the merits of adding bitcoin to the City’s strategic assets to preserve the City’s financial stability,” reads the circulation.
The circulation requires City workers to list relieve to the Council on the feasibility of a “bitcoin-friendly city” strategy by the discontinuance of the first quarter of 2025.
This circulation marks a foremost replace in City policy in direction of BTC, as Vancouver’s prior Mayor, Kennedy Stewart tried to outright ban bitcoin ATMs within metropolis limits in 2019 (Vancouver became as soon as home to the enviornment’s first bitcoin ATM).
Vancouver is additionally the childhood home of outdated Binance CEO Changpeng ‘CZ’ Zhao, and the put failed crypto replace QuadrigaCX became as soon as headquartered.
Sam Reynolds
Sam Reynolds is a senior reporter primarily primarily based mostly in Taipei. Sam became as soon as segment of the CoinDesk team that won the 2023 Gerald Loeb award in the breaking data class for coverage of FTX’s collapse. Before CoinDesk, he became as soon as a reporter with Blockworks and a semiconductor analyst with IDC.
