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The city of Santa Monica has launched an official Bitcoin office to enhance monetization and awareness of digital assets among citizens. This follows approvals of a pilot program, which will be implemented at no cost to the city. Also read: Italy decides on crypto regulation – but it still doesn’t like Bitcoin and Ether Inspired by El Salvador, one of the early adopters of Bitcoin as legal tender, the initiative is expected to create conditions for the general acceptance of the digital currency as part of Santa Monica’s economy. Santa Monica embraces Bitcoin One of the key objectives of the Santa Monica Bitcoin Office is to educate citizens about Bitcoin and help them understand its principles and the advantages of using digital currencies. Commenting on the development, Santa Monica Vice Mayor Lana Negrete, who is also a key proponent of the project, expressed enthusiasm at the launch of the office. Regarding this, she said: “As we embark on a journey to learn Bitcoin in Santa Monica, I’m excited to see the following ideas. Bitcoin is for everyone.” – Lana Negrete (Vice Mayor of Santa Monica) The Bitcoin office is expected to help the city facilitate partnerships that could boost tourism. It also aims to present citizens with employment opportunities within the growing Bitcoin and cryptocurrency industry. Santa Monica city elders are also aware of the industry’s increased energy demand. To address this, the Bitcoin office will encourage sustainable energy usage by encouraging Bitcoin mining powered by green energy sources. Santa Monica continues to lead in innovation, living up to our legacy as Silicon Beach. Last night the City Council moved forward with a partnership with @workforcebtc to educate the community about #Bitcoin and seek opportunities for economic benefits. More details to come. pic.twitter.com/17YKwr1423 — City of Santa Monica (@santamonicacity) July…

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Filed under: News - @ July 11, 2024 7:22 am