[City of Vancouver, Canada, Proposes to Revoke Bitcoin Reserve Proposal: Not Compliant with Local Laws] According to Deep Tide TechFlow on March 6, as reported by The Block, staff from the City of Vancouver, Canada, submitted a report to the city council recommending the revocation of the previously proposed plan titled 'Protecting the City's Purchasing Power Through Diversified Financial Reserves—Becoming a Bitcoin-Friendly City.' The report stated that after a legal review, it was determined that under the *Vancouver Charter* (the provincial law governing the operations of the City of Vancouver), Bitcoin is not classified as a permissible investment asset for the city. The proposal was introduced by Vancouver Mayor Ken Sim in November 2024, aiming to allocate a portion of municipal funds into Bitcoin to combat inflation and volatility. The Vancouver City Council approved the proposal in December 2024 and requested staff to assess its feasibility. At the time, the British Columbia Ministry of Municipal Affairs stated that local governments, including Vancouver, are not permitted to hold financial reserves in cryptocurrencies, citing 'undue risks' as the reason.