Santa Monica Makes History with Unanimous Bitcoin Initiative Approval
The Santa Monica City Council unanimously approved the creation of a Bitcoin Office, marking a national first for such initiatives.
Proposed by Vice Mayor Lana Negrete in partnership with The Proof of Workforce Foundation, the program aims to enhance Bitcoin education, economic recovery, and tourism at no cost to the city. Inspired by El Salvador’s approach to Bitcoin, the office will educate residents, students, and businesses about Bitcoin, identify economic opportunities, and explore sustainable Bitcoin mining.
The initiative seeks to address economic challenges and negative perceptions, particularly in areas like Downtown Santa Monica. Public responses varied, with both strong support and cautious notes on the risks of Bitcoin investment.
Clever Robot News Desk 16th July 2024
