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Vancouver Moves Towards Bitcoin Adoption: Council Approves ‘Crypto-Friendly’ Motion

Vancouver is taking significant steps towards crypto adoption, as the Vancouver City Council approved a motion to explore Bitcoin integration comprehensively.

According to our research, Mayor Ken Sim proposed extensive use of Bitcoin (BTC) in the Canadian city’s financial operations, including a possible establishment of a Bitcoin strategic reserve and payment options. According to his argument, this fast-emerging asset class could stabilize the economy by acting as an inflationary hedge and safeguarding against currency devaluation.

Based on the information privy to us, six counselors voted for the motion. However, two were in strong disagreement while three were absent.

Vancouver Moves Towards Bitcoin Adoption: Council Approves ‘Crypto-Friendly’ Motion

Vancouver is taking significant steps towards crypto adoption, as the Vancouver City Council approved a motion to explore Bitcoin integration comprehensively.

According to our research, Mayor Ken Sim proposed extensive use of Bitcoin (BTC) in the Canadian city’s financial operations, including a possible establishment of a Bitcoin strategic reserve and payment options. According to his argument, this fast-emerging asset class could stabilize the economy by acting as an inflationary hedge and safeguarding against currency devaluation.

Based on the information privy to us, six counselors voted for the motion. However, two were in strong disagreement while three were absent.
https://www.crypto-news-flash.com/vancouver-moves-towards-bitcoin-adoption-council-approves-crypto-friendly-motion