Vancouver Staff Say Bitcoin Reserve Plan Violates Law, Urge Council to Drop Proposal

A proposal to add Bitcoin to Vancouver’s municipal reserves has hit a legal wall, with city staff advising council to abandon the initiative entirely. The recommendation comes ahead of a March 10 council meeting, where officials will consider closing a 2024 motion that explored turning Vancouver into a “Bitcoin-friendly city. ” The plan was championed by Mayor Ken Sim, who had pushed for the city to study allocating part of its financial reserves into the digital asset. Visit Website source: https://thecryptobasic.com/2026/03/06/vancouver-staff-say-bitcoin-reserve-plan-violates-law-urge-council-to-drop-proposal/