PANews reported on March 6 that, according to Decrypt, Vancouver city officials have recommended terminating a council motion exploring the city becoming a "BitcoinPANews reported on March 6 that, according to Decrypt, Vancouver city officials have recommended terminating a council motion exploring the city becoming a "Bitcoin

The City of Vancouver, Canada, has decided to terminate its Bitcoin reserve proposal after a legal review.

2026/03/06 11:51
1 min read
For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com

PANews reported on March 6 that, according to Decrypt, Vancouver city officials have recommended terminating a council motion exploring the city becoming a "Bitcoin-friendly city" because its regulations do not allow Bitcoin to be held as a municipal reserve asset. The officials stated in their report that they have definitively determined Bitcoin is not a permitted investment asset, citing the Vancouver Charter, which stipulates the allocation of municipal funds and prohibits the use of Bitcoin as a reserve asset.

The motion, introduced by Mayor Ken Sim over a year ago, aimed to explore the possibility of accepting cryptocurrency for tax payments and converting a portion of fiscal reserves into Bitcoin. The British Columbia Ministry of Municipalities at the time pointed out that provincial regulations prohibited municipalities from holding fiscal reserves in cryptocurrency, and the legislative intent was to prevent local government funds from being unduly risked.

Market Opportunity
Manchester City Fan Logo
Manchester City Fan Price(CITY)
$0.5975
$0.5975$0.5975
-0.68%
USD
Manchester City Fan (CITY) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Disney Pockets $2.2 Billion For Filming Outside America

Disney Pockets $2.2 Billion For Filming Outside America

The post Disney Pockets $2.2 Billion For Filming Outside America appeared on BitcoinEthereumNews.com. Disney has made $2.2 billion from filming productions like ‘Avengers: Endgame’ in the U.K. ©Marvel Studios 2018 Disney has been handed $2.2 billion by the government of the United Kingdom over the past 15 years in return for filming movies and streaming shows in the country according to analysis of more than 400 company filings Disney is believed to be the biggest single beneficiary of the Audio-Visual Expenditure Credit (AVEC) in the U.K. which gives studios a cash reimbursement of up to 25.5% of the money they spend there. The generous fiscal incentives have attracted all of the major Hollywood studios to the U.K. and the country has reeled in the returns from it. Data from the British Film Institute (BFI) shows that foreign studios contributed around 87% of the $2.2 billion (£1.6 billion) spent on making films in the U.K. last year. It is a 7.6% increase on the sum spent in 2019 and is in stark contrast to the picture in the United States. According to permit issuing office FilmLA, the number of on-location shooting days in Los Angeles fell 35.7% from 2019 to 2024 making it the second-least productive year since 1995 aside from 2020 when it was the height of the pandemic. The outlook hasn’t improved since then with FilmLA’s latest data showing that between April and June this year there was a 6.2% drop in shooting days on the same period a year ago. It followed a 22.4% decline in the first quarter with FilmLA noting that “each drop reflected the impact of global production cutbacks and California’s ongoing loss of work to rival territories.” The one-two punch of the pandemic followed by the 2023 SAG-AFTRA strikes put Hollywood on the ropes just as the U.K. began drafting a plan to improve its fiscal incentives…
Share
BitcoinEthereumNews2025/09/18 07:20
XRP Price: Below $1 or Spike to $2 Are Main Scenarios in Upcoming Volatility Surge

XRP Price: Below $1 or Spike to $2 Are Main Scenarios in Upcoming Volatility Surge

The post XRP Price: Below $1 or Spike to $2 Are Main Scenarios in Upcoming Volatility Surge appeared on BitcoinEthereumNews.com. Price squeezed More challenges
Share
BitcoinEthereumNews2026/03/06 22:14
Wall Street urges investors to dump this OpenAI-backed stock

Wall Street urges investors to dump this OpenAI-backed stock

The post Wall Street urges investors to dump this OpenAI-backed stock appeared on BitcoinEthereumNews.com. The pre-market leading to the morning bell on March 5
Share
BitcoinEthereumNews2026/03/06 22:13