Vancouver city staff have advised the council to repeal the motion titled "Protecting the City's Purchasing Power through Diversified Financial Reserves—Becoming a Bitcoin-Friendly City." The staff report concluded that Bitcoin is not an approved municipal investment asset under the Vancouver Charter, prompting the recommendation to terminate related efforts and reallocate resources to align with other city initiatives. The motion, introduced by Mayor Ken Sim in November 2024, aimed to hedge against inflation and volatility by allocating part of the city's funds to Bitcoin. It was approved by the council in December 2024, with a directive for staff to assess feasibility and report back in the first quarter of 2025.