Pacific

2024

Bitcoin

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The city of Santa Monica, California officially added a “Bitcoin Office” section on its website to bolster industry partnerships and increase employment opportunities. 
The move comes about a month after the Santa Monica City Council unanimously approved a pilot program for the Santa Monica Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) Office. 
The initiative is being implemented at no cost to the city, officials say. 
Following the approval of The City Council, Santa Monica unveiled the <a href="https://www.santamonica.gov/programs/bitcoin-office" target="_blank" rel="">new section</a> on its website on Thursday, Aug. 8.&nbsp; 
The city’s administration is reportedly collaborating with the Proof of Workforce Foundation to educate Santa Monica-based residents and businesses about BTC and its transformative <a href="https://crypto.news/bitcoin-is-the-solution-to-an-inevitable-hyper-financialization-opinion/" target="_blank" rel="noreferrer noopener">potential</a> in the modern economy. 
The Proof of Workforce Foundation is a nonprofit organization dedicated to bridging the gap between emerging digital technologies and local communities. The foundation, created in 2023, plans to equip individuals with the skills needed for the evolving job market and driving economic growth in Santa Monica.&nbsp; 
Beyond its educational mandate, the Bitcoin Office aims to foster partnerships within the <a href="https://crypto.news/tag/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> industry to bolster Santa Monica’s economic recovery and create new job opportunities. 
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According to the website page, the office will facilitate strategic collaborations to strengthen the local economy and position the “Silicon Beach” as a leading hub for Bitcoin innovation. 
The office’s launch was followed by a promotional post about an upcoming Bitcoin festival, Bitcoin Peer-to-Peer, on X. According to the post, Santa Monica plans to host the event on Oct. 18, a day after the proposed date.&nbsp; 
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 🎡 We are excited to learn about <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#Bitcoin</a> Peer-to-Peer …⚡️⚡️⚡️ Please Join Us! Follow <a href="https://twitter.com/SMBitcoinOffice?ref_src=twsrc%5Etfw" target="_blank" rel="">@SMBitcoinOffice</a> for official updates and more information soon…Dates subject to change <a href="https://t.co/hcgCgQUOaf" target="_blank" rel="">pic.twitter.com/hcgCgQUOaf</a>— Santa Monica Bitcoin Office (@SMBitcoinOffice) <a href="https://twitter.com/SMBitcoinOffice/status/1821894098900373780?ref_src=twsrc%5Etfw" target="_blank" rel="">August 9, 2024</a>
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Santa Monica Vice Mayor Lana Negrete <a href="https://pasoroblesdailynews.com/santa-monica-launches-first-official-bitcoin-office-in-the-us/195182/" target="_blank" rel="">emphasized</a> that the Santa Monica Bitcoin Office program is focused solely on education rather than the asset itself. 
The initiative aligns with the council’s ongoing efforts to foster economic recovery for the city, Negrete said. 
The program is expected to <a href="https://crypto.news/california-dmv-digitizes-42m-car-titles-on-blockchain/" target="_blank" rel="noreferrer noopener">generate</a> positive publicity for Santa Monica and boost tourism, notably as the city hosts the annual Pacific Bitcoin Festival, which attracts thousands of Bitcoin enthusiasts annually. 
While promoting educational opportunities about cryptocurrency, Negrete clarified that the city is not endorsing Bitcoin investments. Instead, the program aims to enhance residents’ understanding of cryptocurrency’s functions, enabling them to make more informed decisions regarding its use and investment.&nbsp; 
 Read more: <a href="https://crypto.news/tether-ceo-eu-mica-regulation-puts-stablecoins-at-risk/"> Tether CEO: EU’s MiCA regulation puts stablecoins at risk </a>

Santa Monica ‘Bitcoin Office’ webpage goes live

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