Gelephu City in Bhutan, known as the Mindfulness City, has become one of the first Special Administrative Regions to integrate digital currencies into its economic framework. Strategic reserves now include Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB).
Digital Assets in Gelephu's Economy
Located in the heart of South Asia, Gelephu has strategically decided to include digital assets with large market capitalizations and high liquidity in its reserves, ensuring ease of buying and selling without causing significant price fluctuations.
New Legal Framework for Digital Assets
The integration of digital assets into Gelephu's economy is supported by the enactment of GMC Law No. 1 of 2024, known as the 'Application of Laws Act 2024'. This law provides a clear legal and regulatory framework for businesses dealing with digital assets in the region.
Bhutan’s Bitcoin Holdings
Bhutan has been investing in cryptocurrency for some time, and its Bitcoin holdings have now exceeded $1 billion. This places the country fifth globally in Bitcoin holdings, following the USA, China, the UK, and Ukraine. In May 2023, Bhutan allocated 5% of its GDP to Bitcoin mining.
As part of its technological development, Gelephu in Bhutan is planning an international summit in March 2025. This event aims to discuss the role of digital assets in national reserves and establish an advisory panel to guide further advancements in the digital asset space.
