Vancouver City Council Has Voted To Explore Ways In Which The City Can Become A ‘Bitcoin Friendly City’ - The Proposal Was Developed By Vancouver’s BTC Proponent Mayor Ken Sim. Yesterday, Vancouver’s city council voted in favour of a motion to explore making the city more ‘Bitcoin-friendly.’ This involves a comprehensive analysis, to be completed by the end of Q1 2025, of the potential for Vancouver to invest in BTC as well as accept tax payments in the asset. The motion also directs staff to develop a ‘framework’ for the custody of BTC and potential liquidation. The motion outlines notable instances of public adoption of the asset, e.g. El Salvador, Lugano, Zug, and Pennsylvania and describes BTC’s use in Malawi to subsidize the development of energy infrastructure. The motion also explains that by broadening the city’s financial reserves and introducing payment options that include BTC, the city can increase the resilience of its financial portfolio. This strategy would ultimately benefit taxpayers, according to the motion, by safeguarding the value and purchasing power of their tax contributions and other financial resources against the fluctuating nature of fiat currencies. In an episode of the Coinstories podcast last week, Vancouver mayor Sims described Vancouver’s ‘affordability crisis’ and the Canadian dollar’s diminishing purchasing power. Sim described himself as a BTC proponent and explained that fiat currencies are being debased and that the token can serve as a hedge against inflation and a store of value. These views have informed Sim’s decision to introduce a motion to make the city BTC friendly.

• Brian Quintenz has been interviewed for the leadership position at the CFTC. [Link](https://www.bloomberg.com/news/articles/2024-12-12/andreessen-crypto-policy-lead-quintenz-in-running-for-cftc-chair) - @Bloomberg • BlackRock suggested that portfolios include a 1% to 2% BTC allocation. [Link](https://www.bloomberg.com/news/articles/2024-12-12/blackrock-says-up-to-2-bitcoin-allocation-is-reasonable-range) - @Bloomberg • Interactive Brokers founder and chairman Thomas Peterffy recommended investors allocate 2-3% of their net worth to BTC. [Link](https://www.bloomberg.com/news/articles/2024-12-11/peterffy-says-investors-should-hold-bitcoin-but-not-too-much?cmpid=socialflow-twitter-business&utm_medium=social&utm_content=business&utm_source=twitter&utm_campaign=socialflow-organic&embedded-checkout=true) - @Bloomberg • VersiFi obtained In-Principle Approval from Abu Dhabi’s Financial Services Regulatory Authority for its crypto trading platform. [Link](https://www.versifi.io/the-financial-services-regulatory-authority-of-adgm-grants-in-principle-approval-for-digital-assets-dma-and-otc-trading-to-versifi/) - @VersiFi • A critical vulnerability was reportedly identified in the Dogecoin network, resulting in a significant node crash. [Link](https://cointelegraph.com/news/dogecoin-flaw-nodes-crash-69-percent) - @Cointelegraph • FTX debtors reclaimed over USD 14M in political donations amid bankruptcy efforts. [Link](https://www.bloomberg.com/news/articles/2024-12-11/peterffy-says-investors-should-hold-bitcoin-but-not-too-much?cmpid=socialflow-twitter-business&utm_medium=social&utm_content=business&utm_source=twitter&utm_campaign=socialflow-organic&embedded-checkout=true) - @Cointelegraph • Kraken-owned Bit Trade was fined AUD 8M by the Federal Court of Australia for regulatory breaches. [Link](https://www.theblock.co/post/330501/kraken-exchange-operator-fined-5-million-in-australia-for-compliance-failure) - @TheBlock • Haun Ventures and Dragonfly Capital completed a USD 9M funding round for Commonware. [Link](https://www.theblock.co/post/330443/former-ava-labs-engineering-lead-raises-9-million-to-build-anti-framework-blockchain-developer-tools) - @TheBlock • Crypto.com acquired Orion Principals Limited, aiming to broaden its traditional financial service offerings. [Link](https://crypto.com/company-news/cryptocom-acquires-orion-principals-limited-to-boost-financial-product-expansion) - @Crypto.com

• CBC: [Vancouver Council Passes Mayor's Motion To Make City 'Bitcoin-Friendly'](https://www.cbc.ca/news/canada/british-columbia/vancouver-mayor-ken-sim-bitcoin-reserve-1.7408208) • Barron's: [One Of The Election’s Biggest Winners Is A Cryptocurrency In Hot Water With the SEC](https://www.barrons.com/articles/xrp-ripple-crypto-sec-7f320e04)

• Consensys Releases Global Survey On Crypto And Web3. [Link](https://consensys.io/blog/global-survey-on-crypto-and-web3-press-release-2024) - Consensys, December 10, 2024 • Consensys presents the results of its 2024 Global Survey on Crypto and Web3, highlighting 'growing familiarity with web3, crypto and blockchain, underscores privacy and trust concerns with web2.'

• [FRNT CEO Stephane Ouellette Discusses The Company's Outlook For 2025](https://x.com/bitcoinfirst_/status/1866913674796978242), Bitcoin First, December 11, 2024 • FRNT CEO Stephane Ouellette discusses the company's business model and his outlook for crypto markets in a wide-ranging discussion on X.