Bhutan’s newly established Gelephu Mindfulness City (GMC) has announced plans to include digital assets such as Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB) in its strategic reserves. The move makes the GMC one of the first special administrative regions (SARs) to formally incorporate digital currencies into its economic framework.
Located in the heart of South Asia, Gelephu Mindfulness City is uniquely positioned to take advantage of the growing digital economy. It has decided to include digital assets in its reserves, focusing on those with large market capitalizations and high liquidity. This ensures that these assets can be easily bought and sold without causing large price fluctuations.
The choice of Bitcoin, Ethereum, and Binance Coin is due to their foundation on secure and robust blockchains, which allow for easy tracking of transactions, making them reliable options.
This move is part of the region's ongoing engagement with blockchain technology, including initiatives such as Bitcoin mining.
New legal framework for digital assets
This decision was made following the introduction of GMC Law No. 1 of 2024 (the '2024 Legal Application Act'). The law establishes a clear legal and regulatory framework for businesses dealing with digital assets in GMC.
This law, along with the decision to add Bitcoin, Ethereum, and BNB to the city's reserves, enhances GMC's digital ecosystem. The region aims to foster a balance between technological innovation and regulation, providing a secure environment for the growth of digital assets.
Bhutan's Bitcoin holdings
Bhutan has been investing in cryptocurrency, and with the rise in the market, its Bitcoin holdings have now surpassed $1 billion. Its Bitcoin holdings rank fifth, following the United States, China, the United Kingdom, and Ukraine.
In addition to purchasing Bitcoin, Bhutan has also established partnerships with Bitcoin miners. In May 2023, Bhutan allocated 5% of its GDP to Bitcoin mining, indicating its increasing investment in the digital asset space.
What are GMC's next steps?
Looking ahead, GMC plans to host an international summit in Bhutan in March 2025. This event will bring together senior government officials and industry leaders from around the world to discuss the role of digital assets in national reserves.
The summit will also focus on establishing a consultative group to guide the city's efforts in the field of digital assets.#BNB纳入不丹GMC加密战略储备
$BTC
