Gelephu Mindfulness City (GMC), Bhutan’s newly established Special Administrative Region (SAR), has made a groundbreaking announcement. The city will now include digital assets such as Bitcoin (BTC), Ether (ETH), and BNB as part of its official strategic reserves. This move makes GMC one of the first regions in the world to officially hold digital assets like cryptocurrencies in its reserves.
The decision to include digital assets comes as part of GMC’s broader goal to build economic resilience and diversify its assets. By including highly liquid and secure digital assets, GMC aims to ensure that its reserves can be easily accessed and traded with minimal market impact. This step also reflects the city’s ongoing commitment to supporting blockchain technology and digital assets.
Located in a key position on the land bridge between South Asia’s rapidly growing economies, GMC is set to serve over two billion people in the region. One of GMC’s main economic focuses is the promotion and support of blockchain technology and innovative technologies.
The announcement follows the recent passage of GMC Law No. 1 of 2024 or the ‘Application of Laws Act 2024’. This new law establishes a legal and regulatory framework for businesses offering digital asset-related financial services in GMC. The city’s push to recognize BTC, ETH, and BNB as strategic reserves is designed to foster a safe and well-regulated environment for the growing digital asset ecosystem in the region.
To further enhance global collaboration, GMC will host a high-level meeting in March 2025. Senior government officials and industry leaders from around the world will gather in Bhutan to discuss the inclusion of digital assets in national reserves and explore the formation of an international advisory panel for digital assets.
NFT platform Candy Digital has announced plans to migrate its digital collectibles ecosystem to the Solana blockchain, signaling…
The U.S. military has confirmed it is actively running a Bitcoin node as part of national security research, while…
The Web3 gaming sector is facing a harsh reality check as new data reveals that more…
Justin Sun, founder of TRON, has filed a federal lawsuit against World Liberty Financial, a crypto venture…
Tether has frozen approximately $344 million in USDT on the Tron blockchain after the wallets were flagged by U.S. authorities, marking…
Prediction market platform Kalshi has fined and suspended three U.S. congressional candidates after determining they engaged in “political…