Economic reports or statements from Gelephu Mindfulness City

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

Jan 8, 2025, 11:29 AM

Gelephu Mindfulness City (GMC), a new Special Administration Region in Bhutan, has announced plans to include Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) as part of its strategic reserves. This move positions GMC as one of the first jurisdictions globally to officially hold digital assets in its strategic reserves. The inclusion of these cryptocurrencies is aimed at enhancing the region's economic resilience and is an extension of its involvement in bitcoin mining activities. GMC's strategy focuses on digital assets with large market capitalizations and deep liquidity, which can be easily traded with minimal price impact, and are issued on secure blockchains that allow for monitoring of transactions. This initiative follows the enactment of GMC Law No. 1 of 2024, which establishes a legal and regulatory framework for financial services involving digital assets within the region. GMC, often referred to as the 'Hong Kong of South Asia', aims to leverage these new opportunities to strengthen its economic position.