{"id":19471,"date":"2024-12-12T13:05:00","date_gmt":"2024-12-12T11:05:00","guid":{"rendered":"https:\/\/forklog.com\/en\/vancouver-city-council-explores-bitcoin-reserve-possibilities\/"},"modified":"2024-12-12T13:05:00","modified_gmt":"2024-12-12T11:05:00","slug":"vancouver-city-council-explores-bitcoin-reserve-possibilities","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/vancouver-city-council-explores-bitcoin-reserve-possibilities\/","title":{"rendered":"Vancouver City Council Explores Bitcoin Reserve Possibilities"},"content":{"rendered":"<p>The city council of Vancouver, Canada, has accepted the mayor&#8217;s proposal to explore the integration of Bitcoin into the financial system.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/VanCityCouncil?src=hash&#038;ref_src=twsrc%5Etfw\">#VanCityCouncil<\/a> approves motion 3. Preserving of the City\u2019s Purchasing Power Through Diversification of Financial Reserves \u2013 Becoming A Bitcoin Friendly City.<\/p>\n<p>\u2014 Vancouver City Clerk (@VanCityClerk) <a href=\"https:\/\/twitter.com\/VanCityClerk\/status\/1866988118496383021?ref_src=twsrc%5Etfw\">December 11, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On November 26, municipal leader Ken Sim presented a document titled &#8220;Preserving the City\u2019s Purchasing Power Through Diversification of Financial Reserves: Becoming a Bitcoin Friendly City.&#8221;<\/p>\n<p>The initiative suggests the possibility of accepting taxes and fees in the first cryptocurrency, as well as converting part of the city&#8217;s reserves into the asset.<\/p>\n<p>This move would &#8220;preserve Vancouver&#8217;s purchasing power amidst the volatility, depreciation, and inflationary pressures of traditional currencies in the interest of taxpayers.&#8221;<\/p>\n<p>An assessment of the feasibility, risks, and potential benefits of the Bitcoin initiative is expected by the end of the first quarter of 2025.<\/p>\n<p>Ken Sim became the mayor of Vancouver in 2022, accepting cryptocurrency donations during his election campaign.<\/p>\n<p>Previously, a presidential candidate in Brazil proposed the creation of a national Bitcoin reserve.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The city council of Vancouver, Canada, has accepted the mayor&#8217;s proposal to explore the integration of Bitcoin into the financial system. #VanCityCouncil approves motion 3. Preserving of the City\u2019s Purchasing Power Through Diversification of Financial Reserves \u2013 Becoming A Bitcoin Friendly City. \u2014 Vancouver City Clerk (@VanCityClerk) December 11, 2024 On November 26, municipal leader [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19470,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1538,771,36],"class_list":["post-19471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-purchase","tag-canada","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19471","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=19471"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19471\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/19470"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=19471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=19471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=19471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}