Explore converting city financial reserves into Bitcoin

Status

Broken

Policy areas

Jurisdiction

Vancouver

Made

Dec 11, 2024

Campaign

2022–2026 In-Term Commitments

Status Guide

Made

These promises were clearly made on the record and are being tracked while evidence of progress or outcome is gathered.
In Progress

These promises show evidence of active work, implementation steps, or partial movement toward the stated commitment.
Partially Kept

These promises were delivered in part, but important elements or the full commitment remain outstanding.
Kept

These promises were delivered substantially as made, based on reviewed evidence and editorial assessment.
Broken

These promises were not delivered as made, were abandoned, or were contradicted by the eventual outcome based on reviewed evidence.

Statement

Mayor Ken Sim and ABC Vancouver commit to investigating converting a portion of the City of Vancouver's financial reserves into Bitcoin and making Vancouver a Bitcoin-friendly city.

Overview

City finance and legal staff reported back in early 2026 that purchasing or holding volatile cryptocurrency directly violated investment restrictions under the Vancouver Charter, leading Council to drop the initiative.

Sources

CBC News (opens in a new tab) Source Published Dec 11, 2024

Vancouver City Council passes motion brought forward by Mayor Ken Sim to explore becoming a Bitcoin-friendly city and holding Bitcoin in reserves.

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