Gelephu City in Bhutan Adopts Digital Asset Strategic Reserves

user avatar

by Giorgi Kostiuk

2 years ago

The concept of digital asset strategic reserves is gaining traction. Gelephu in Bhutan has announced its plan to adopt Bitcoin, Ethereum, and Binance Coin as strategic reserves.

Digital Assets as a Strategic Initiative

Gelephu, being a Special Administrative Region of Bhutan, is one of the first to add digital assets to its reserves. This move is driven by the desire to safeguard reserves amid global financial changes.

Supporting Blockchain in Gelephu

The city actively promotes innovation and the development of advanced technologies, with a focus on blockchain. This decision aligns with the region's focus on technological progress and contributes to economic growth through the adoption of modern solutions.

Plans for Advisory and Regulation

In December 2024, the Application of Laws Act will establish a legal framework for companies dealing with digital assets. The city plans to form an advisory panel on digital assets to implement this project.

Gelephu's initiative regarding digital asset strategic reserves may encourage further adoption of cryptocurrencies and blockchain technologies in the region, creating transparent and clear regulatory conditions.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Solayer Pay Launches Direct Stablecoin Deposits for Enhanced User Experience

Solayer Pay has launched a feature allowing direct stablecoin deposits from five major blockchain networks, simplifying the funding process for users.

user avatarAyman Ben Youssef

CMCC Global Introduces Tokenized Fund Strategies

CMCC Global is introducing two fund strategies as tokenized securities through Tether's Hadron infrastructure and Bitfinex Securities under El Salvador's regulations.

user avatarTando Nkube

Senator Blumenthal Investigates Tether's Payments to Consultancy

Senator Blumenthal investigates Tether's payments to consultancy Nxum over potential ethics concerns.

user avatarKofi Adjeman

Blockchain Association Pushes for Crypto Tax Legislation

The Blockchain Association advocates for bipartisan changes to cryptocurrency tax regulations, seeking a de minimis exemption for small transactions and clarity in tax reporting for digital asset users.

user avatarNguyen Van Long

Starknet Community Votes to Explore Independent Post-Quantum Layer 1 Network

The Starknet community is exploring the possibility of transforming into an independent post-quantum secure layer 1 network, with a recent poll showing strong support for research into this initiative.

user avatarSatoshi Nakamura

SoFi Introduces SOFIE Tokenized Deposit for Earning Interest

SoFi has launched a new tokenized deposit product named SOFIE, allowing consumers to earn interest on dollar balances while facilitating blockchain transfers.

user avatarJesper Sørensen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.