Vancouver officials challenge Mayor Ken Sim's 2024 Bitcoin reserve plan under city charter rules

Vancouver city staff have concluded Bitcoin is not an eligible municipal investment under the Vancouver Charter and advised council to halt Mayor Ken Sim's 2024 proposal to establish a Bitcoin reserve, ahead of a Tuesday vote. The initiative, originally passed with six votes in favor and two against, aimed to diversify the city's financial reserves and use Bitcoin as an inflation hedge, but faces renewed scrutiny amid the cryptocurrency's price decline.