#BNBBhutanReserves Bhutan's Gelephu Mindfulness City (GMC), a newly established Special Administrative Region, has announced plans to include Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) in its strategic reserves. This initiative aims to enhance the city's economic resilience and build upon Bhutan's existing involvement in Bitcoin mining.
GMC intends to focus on digital assets with large market capitalizations and deep liquidity, ensuring they can be traded with minimal price impact. Additionally, the city plans to recognize assets issued on mature and secure blockchains that support robust on-chain transaction monitoring.
This move follows the enactment of GMC Law No. 1 of 2024, which established a comprehensive legal and regulatory framework for digital asset financial services within the city. The law aims to provide a secure environment for businesses while fostering the growth of a robust digital asset ecosystem.
Bhutan's engagement with digital assets is not new. The country's investment arm, Druk Holding and Investments (DHI), has been involved in Bitcoin mining since at least 2019. As of now, Bhutan holds approximately 11,688 BTC (valued at around $1.12 billion) and 656 ETH (valued at about $2.2 million).
The decision to include BNB, alongside Bitcoin and Ethereum, in GMC's strategic reserves reflects a growing recognition of the significance of diverse digital assets in national economic strategies. Binance CEO Richard Teng commented on this development, stating that Bhutan's forward-thinking approach to blockchain adoption sets a powerful example for the world.
In summary, Bhutan's Gelephu Mindfulness City is pioneering the integration of digital assets like BNB into its strategic reserves, aiming to strengthen economic resilience and promote technological advancement within the region.
