Gelephu Mindfulness City (GMC), a Special Administrative Region (SAR) in Bhutan, has incorporated digital assets such as Bitcoin (BTC), Ether (ETH), and Binance Coin (BNB) into its strategic reserves.
This move positions GMC as one of the first jurisdictions in the world to officially embrace crypto as part of its financial strategy.
Crypto-based strategic reserve
The official announcement highlighted SAR’s commitment to economic resilience through the inclusion of digital assets.
The inclusion of digital assets in the GMC's strategic reserves will enhance the SAR's economic resilience and reflects an evolution of the jurisdiction's involvement in bitcoin mining, the statement said.
The city’s strategy focuses on digital assets with large market capitalizations and high liquidity. This will ensure that they can be easily traded with minimal impact on price. Additionally, the GMC plans to prioritize assets issued on mature and secure blockchains that allow for strong on-chain transaction monitoring.
GMC’s strategic position as a land bridge between the fast-growing economies of South Asia provides access to a vast market. This advantage positions the SAR to emerge as a hub for technological advancement and financial services.
GMC aims to become the Hong Kong of South Asia, Wu Blockchain joked in a comment.
New law boosts adoption of digital assets at GMC
In fact, this development follows the enactment of the GMC Act No. 1 of 2024, also known as the ‘Enforcement Act 2024’. The legislation, implemented on 26 December 2024, established a regulatory framework for companies offering financial services related to digital assets within the GMC.
By combining this legal basis with the recognition of BTC, ETH, and BNB as strategic reserve assets, the SAR aims to foster a thriving digital asset ecosystem in a safe and well-regulated environment.
To further cement its role in the global crypto landscape, the GMC plans to host a high-level meeting in March 2025. The gathering will bring together senior government officials and industry leaders from around the world for a summit. This meeting will address the recognition of digital assets as part of strategic reserves and explore the creation of an international advisory panel on digital assets for the GMC.
The recognition of BNB as a strategic reserve asset has attracted significant attention from the crypto community. Binance founder and former CEO Changpeng Zhao (CZ) praised the decision in a post on X (formerly Twitter).
BNB is now a Strategic Reserve asset in Bhutan, CZ shared.
Why were Bitcoin, Ethereum and BNB chosen?
According to BNB Chain, Binance Coin BNB was selected alongside BTC and ETH due to its utility within the ecosystem. The network also highlights BNB Chain’s maturity, security, and scalability. It also indicated its ability to support on-chain transaction monitoring for transparency.
Kyle Chasse, a prominent crypto veteran, expressed his excitement, praising Bhutan for its decision to embrace crypto. Meanwhile, this pioneering initiative by the GMC reflects the growing role of crypto in national financial strategies. Bhutan’s decision is in line with a broader global trend of adopting crypto assets for reserves.
As reported by BeInCrypto, the Czech National Bank is considering incorporating Bitcoin into its reserves. Similarly, Bitcoin reserves are gaining traction in the United States, with 13 states leading the way by 2025.
Switzerland is also contemplating holding Bitcoin as a strategic reserve, further highlighting the growing role of crypto in financial innovation.
These measures reflect the growing role of crypto in national financial strategies. By integrating digital assets into its reserves, the GMC increases its economic resilience while paving the way for broader adoption of blockchain technology in the region.
As other jurisdictions monitor Bhutan’s progress, this bold initiative could inspire similar efforts around the world. Such an outcome would redefine how nations approach financial innovation and technological advancement.
The article Bhutan adopts Bitcoin, Ethereum and BNB as reserve assets appeared first on BeInCrypto Brasil.
