By Bhutan’s newly established Gelephu Mindfulness City (GMC) has announced a groundbreaking move to incorporate digital assets into its strategic reserves.
By integrating Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), GMC positions itself as a trailblazer in the adoption of cryptocurrencies within a government-backed economic framework.
This initiative not only cements the city’s status as a forward-thinking Special Administrative Region (SAR) but also showcases Bhutan’s broader ambition to harness blockchain technology for national development.
Bhutan’s Gelephu Mindfulness City Pioneers Adoption of BTC, ETH and BNB and Other Digital Assets in City’s Strategic Reserves.
gmc.bt/digitalassets/
Strategic integration of digital assets
Situated strategically in South Asia, Gelephu Mindfulness City aims to capitalise on the growing digital economy.
Its choice to include Bitcoin, Ethereum, and Binance Coin reflects a focus on high-liquidity, large-capitalisation digital assets.
These cryptocurrencies, backed by robust blockchain networks, offer stability and transparency, aligning with GMC’s vision for secure economic growth.
By ensuring ease of transactions and minimising price volatility risks, GMC is setting a precedent for digital asset adoption at the governmental level.
This step is not an isolated initiative but part of Bhutan’s broader engagement with blockchain technology.
The region has been exploring Bitcoin mining and other blockchain applications, demonstrating a commitment to integrating cutting-edge technologies into its economic strategies.
Regulatory framework supports innovation
GMC’s announcement coincides with the enactment of its pioneering ‘Application of Laws Act 2024’.
This legislation provides a comprehensive legal framework for businesses and individuals operating in the digital asset space within the city.
By combining regulatory clarity with innovation, the city seeks to create an environment that balances technological advancement with economic stability.
The framework ensures compliance while promoting growth in digital transactions, signalling GMC’s intention to become a global hub for blockchain-driven economies.
By fostering a secure regulatory environment, GMC is encouraging both domestic and international investments in its digital ecosystem.
Bhutan’s rising cryptocurrency influence
Bhutan’s cryptocurrency initiatives extend beyond Gelephu.
The country’s Bitcoin holdings, valued at over $1 billion, rank fifth globally, trailing only the United States, China, the United Kingdom, and Ukraine.
This impressive portfolio highlights Bhutan’s active participation in the digital asset market.
In May 2023, Bhutan made headlines by allocating 5% of its GDP to Bitcoin mining.
This ambitious investment underscores the nation’s long-term commitment to blockchain and digital currencies.
Partnerships with Bitcoin mining firms further solidify Bhutan’s role as a key player in the cryptocurrency landscape.
GMC sets global benchmarks
Gelephu Mindfulness City is poised to host an international summit in March 2025, focusing on the integration of digital assets into national reserves.
The event is expected to draw policymakers, industry leaders, and blockchain experts from around the world.
Key objectives of the summit include establishing an advisory panel to guide GMC’s cryptocurrency strategy and fostering dialogue on the role of digital assets in modern economies.
By spearheading such initiatives, GMC is positioning itself as a model for other regions exploring digital asset integration.
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