In a pioneering move, Gelephu Mindfulness City (GMC) – Bhutan’s freshly established Special Administrative Region – has made headlines with an innovative decision. From now on, digital assets like Bitcoin (BTC), Ether (ETH), and BNB will be integrated into the city’s strategic reserves as official components.
This action places GMC among the initial global areas that have legally incorporated digital assets such as cryptocurrencies into their reserve holdings.
In simpler terms, the innovative city of Gelephu in Bhutan is embracing the use of Bitcoins (BTC), Ethereum (ETH) and Binance Coin (BNB), along with other digital currencies, by integrating them into its strategic financial reserves.
— gmcbhutan (@gmcbhutan) January 8, 2025
GMC’s plan to incorporate digital assets is a strategic move towards economic resilience and asset diversification. By integrating highly liquid and secure digital assets, GMC intends to maintain quick accessibility and minimal market disturbance when dealing with its reserves. Moreover, this action underscores the city’s persistent efforts in promoting blockchain technology and digital assets.
As an analyst, I find myself strategically positioned within a pivotal location on the land bridge that connects the burgeoning economies of South Asia. This puts me at GMC, poised to serve a staggering population of over two billion people in this dynamic region. One of our primary economic objectives at GMC revolves around championing and bolstering blockchain technology and other innovative tech solutions.
The announcement comes after the approval of the ‘Application of Laws Act 2024’, also known as GMC Law No. 1 of 2024. This fresh legislation sets up a legal and regulatory infrastructure for businesses providing financial services connected to digital assets within the GMC. The city’s initiative to acknowledge Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) as strategic reserves is aimed at cultivating a secure and regulated atmosphere for the burgeoning digital asset industry in the area.
In March 2025, GMC is organizing a significant summit aimed at boosting worldwide cooperation. This event will bring together top-tier government representatives and influential figures from various industries on a global scale. The primary focus of this gathering in Bhutan will be to deliberate on the integration of digital assets within national reserves and to contemplate the establishment of an international advisory board for digital assets.
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2025-01-08 14:13