Vancouver Mayor’s Plan to Add Bitcoin to City Reserves Hits Legal Roadblock

Vancouver City Council approved a proposal from Mayor Ken Sim on December 11, 2024, directing city officials to study converting part of the city’s financial reserves into Bitcoin to diversify its assets and hedge against inflation. The proposal also called for an assessment of whether the city could accept cryptocurrency for municipal payments. It did not specify an investment amount but drew scrutiny over the safety of public funds and the city’s investment authority.

In a March 2, 2026, report, Vancouver’s finance and supply chain management department concluded that the Vancouver Charter does not permit the city to hold Bitcoin as an investment asset. British Columbia regulations allow only conservative investments such as government bonds and bank instruments. City staff therefore recommended that the council end the initiative on March 10. The assessment, originally due in the first quarter of 2025, also failed to lead to legislative changes.