- Governments are turning to crypto for digital currency adoption, financial inclusion, and economic modernization.
- Vancouver’s mayor proposes a Bitcoin-friendly city plan, to be presented to the city council on December 11.
- This initiative aligns with global trends of embracing digital assets for financial stability and growth.
In recent times, federal and local governments have been turning to crypto to promote the widespread adoption of digital currencies, enhance financial inclusion, and modernize their economies.
Such is the case with Buthan and El Salvador, and even small cities like Lugano in Switzerland. Recently, Brazil proposed to adopt a similar Bitcoin-purchase methodology as El Salvador, with the petition still to be voted on by Congress.
And now, the mayor of one of the biggest cities in North America is proposing to transform the town into a new crypto haven in the region. Mayor of Vancouver Ken Sim just announced plans to explore bitcoin solutions for the city.
The proposal “Preserving the city’s purchasing power through diversification of financial resources: Becoming a Bitcoin-friendly city” will be presented to the city Council on December 11, and promises to completely reshape Vancouver’s take on cryptocurrencies.
Just yesterday Mayor Sim proposed to consider Bitcoin as a reserve asset, going in line with recent trends to use the world’s largest currency as a store of value in major government institutions.
This initiative mirrors the broader global movement toward embracing digital assets as governments and policymakers recognize their potential to provide financial stability and growth.
