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The mayor of Vancouver proposed investing in Bitcoin, but it was ultimately rejected.
The city's laws apparently limit investments to conservative financial products like government bonds, municipal bonds, and bank deposits.
It seems they only consider highly rated products, and cryptocurrencies are excluded.
Accepting Bitcoin for taxes might be possible, but only under the condition that it is immediately converted into Canadian dollars.
Municipal investment regulations are really strict, after all.
Meanwhile, XRP is currently trading around $1.36, but recently there has been a stronger selling pressure.
Trading volume is also decreasing, so it seems necessary to be aware of downside risks.
It appears to be moving in tandem with the overall market, so for now, it might be best to wait and see.