Vancouver City Council Passes Bill to Become Bitcoin Friendly City and Explore Its Possible Municipal Uses

According to Bloomberg, Vancouver, Canada has passed a policy that may introduce Bitcoin into its city finances - partially influenced by the return of US President elect Donald Trump. On Wednesday, the Vancouver City Council passed a motion to become a "Bitcoin friendly city" and explore the application of Bitcoin in the municipal sector. Vancouver Mayor Ken Sim said in a phone interview before Tuesday's council vote, "I've been wanting to do this for some time now. But I don't think the public is ready for a discussion on this." Sim said he decided to talk more openly about cryptocurrency because "suddenly, with what's happening in the United States, many other countries, provinces, and states are saying they're going to take similar actions. And we want to be ahead of this trend Since announcing the policy at the end of November, Sim has publicly stated that he is a staunch believer in Bitcoin, calling it "the greatest invention in human history" and asserting that the value of traditional fiat currencies will "reset to zero". He believes that the "potential" value of Bitcoin is only a small part of its future value, although he emphasizes that he is not qualified to provide investment advice.