Public announcements from blockchain companies or Gelephu Mindfulness City

Bhutan's Gelephu Mindfulness City Becomes First Jurisdiction to Include Bitcoin, Ethereum, and BNB in Strategic Reserves for Economic Resilience

Jan 8, 2025, 01:48 PM

Gelephu Mindfulness City (GMC), a newly designated Special Administration Region in Bhutan, has announced its intention to include Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) in its strategic reserves. This move positions GMC as one of the first jurisdictions globally to officially hold digital assets as part of its reserve strategy, aiming to enhance the region's economic resilience. The decision aligns with GMC's broader mission to become the 'Hong Kong of South Asia' and attract blockchain businesses under a clear regulatory framework. The inclusion of these digital assets is part of GMC's strategy to adopt mature digital assets with high market capitalization and deep liquidity, which are chosen for their stability and the ability to support on-chain transaction monitoring. This announcement follows the enactment of the 'Application of Laws Act 2024' in GMC, which established a legal and regulatory framework for companies offering financial services involving digital assets. GMC's involvement in Bitcoin mining is also seen as a factor in this decision. The region plans to host a high-level meeting in March 2025 to discuss the integration of digital assets into strategic reserves.