**[Vancouver City Government Recommends City Council Withdraw Proposal to Build a "Bitcoin-Friendly" City]** BlockBeats News, March 6, according to The Block, staff from the Vancouver city government in Canada have recommended that the city council withdraw the proposal to build the city as a "Bitcoin-friendly" city following a legal review. In a recent report submitted to the Vancouver City Council, staff suggested repealing the motion titled "Protecting the City's Purchasing Power Through Diversified Financial Reserves—Becoming a Bitcoin-Friendly City," which was initially proposed in November 2024. The report stated: "Staff have clearly determined that under the Vancouver Charter, Bitcoin is not considered a permissible investment asset for municipalities, and therefore recommend terminating related efforts." The Vancouver Charter is the legal framework governing municipal operations. The report also mentioned that reprioritizing staff resources and coordinating with other municipal plans are additional reasons for proposing the withdrawal of the motion.