The City of Santa Monica has officially launched a Bitcoin Office to enhance education and explore economic opportunities related to Bitcoin, further positioning itself as a leader in crypto innovation.
The initiative, approved unanimously by the Santa Monica City Council on July 11, was introduced to the public with the launch of its official webpage on Aug. 8.
The office is part of a collaboration with Proof of Workforce, a nonprofit dedicated to providing Bitcoin education to the workforce, unions, and pension funds.
The Bitcoin Office’s primary goals include educating the local community, exploring potential partnerships that could boost the city’s economic recovery, and identifying career opportunities related to Bitcoin for residents and students.
While the initiative has garnered excitement, it has also raised concerns among some city officials. Council members discussed the potential legal and financial risks associated with promoting Bitcoin, ensuring that appropriate disclaimers are in place to protect the city from liability. However, as noted on its official webpage, the office emphasizes the importance of understanding the risks associated with crypto.
Proof of Workforce, led by Santa Monica firefighter and former union president Dominick Bei, was established in 2023. The nonprofit organization, which operates under a 501(c)(4) tax status, aims to empower workers, unions, and organizations by helping them understand how Bitcoin can support their objectives and well-being.
In addition to its educational efforts, the Bitcoin Office is promoting the upcoming “Bitcoin Peer to Pier Festival,” scheduled for Oct. 18. This event is seen as a continuation of a previously planned festival by Swan Bitcoin, which had originally set its event for Oct. 17 before canceling it due to staff reductions.
Santa Monica’s new Bitcoin Office and the planned festival highlight the city’s commitment to integrating Bitcoin into its economic framework, reinforcing its status as a forward-thinking tech hub within the “Silicon Beach” region.