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, which was unanimously approved by the Santa Monica City Council on July 11, was introduced to the public with the launch of its official web page on August 8.
The office is part of a partnership with Proof of Workforce, a nonprofit organization committed to providing Bitcoin education to the workforce, unions and pension funds.
The Bitcoin Office’s main objectives include educating the local community, exploring potential partnerships that could fuel the city’s economic recovery, and identifying career opportunities related to Bitcoin for residents and students.
While the initiative has generated enthusiasm, 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 stated on the 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 founded in 2023. The nonprofit, which operates under a 501(c)(4) tax status, aims to empower employees, unions and organizations by helping them understand how Bitcoin can support their goals and well-being.
In addition to its educational efforts, the Bitcoin Office is promoting the upcoming “Bitcoin Peer to Pier Festival,” scheduled for October 18. This event is seen as a continuation of a previously planned festival by Swan Bitcoin, which had originally scheduled its event for October 17 before being canceled due to staff reductions.
Santa Monica’s new Bitcoin office and planned festival underscore the city’s commitment to integrating Bitcoin into its economic framework, cementing its status as a progressive technology center within the “Silicon Beach” region.