Gelephu Mindfulness City (GMC), a Special Administrative Region (SAR) in Bhutan, has incorporated digital assets like Bitcoin (BTC), Ether (ETH), and Binance Coin (BNB) into its strategic reserves.
This move positions GMC as one of the first jurisdictions globally to officially adopt cryptocurrencies as part of its financial strategy.
Bhutan Pioneers Crypto-Based Strategic Reserve
The official announcement highlighted the SAR’s commitment to economic resilience through the inclusion of digital assets.
“The inclusion of digital assets in GMC’s strategic reserves will enhance the SAR’s economic resilience and reflects an evolution of the jurisdiction’s involvement in bitcoin mining,” it stated.
The city’s strategy focuses on digital assets with large market capitalizations and deep liquidity. This will ensure they can be easily traded with minimal price impact. Furthermore, GMC plans to prioritize assets issued on mature, secure blockchains that allow for strong on-chain transaction monitoring.
GMC’s strategic position as a land bridge between South Asia’s rapidly growing economies provides access to a vast market. This advantage positions the SAR to emerge as a hub for technological advancement and financial services.
“GMC aims to become the Hong Kong of South Asia,” Wu Blockchain quipped.
Notably, this development follows the enactment of GMC Law No. 1 of 2024, also known as the ‘Application of Laws Act 2024.’ The legislation, implemented on December 26, 2024, established a regulatory framework for companies offering digital asset-related financial services within GMC.
By coupling this legal foundation with the recognition of BTC, ETH, and BNB as strategic reserve assets, the SAR aims to foster a thriving digital asset ecosystem within a secure and well-regulated environment.
To cement its role in the global crypto playing field further, GMC plans to host a high-level meeting in March 2025. The meeting will gather senior government officials and industry leaders from around the world at a summit. This gathering will address the recognition of digital assets as part of strategic reserves and explore the creation of an international advisory panel on digital assets for GMC.
The recognition of BNB as a strategic reserve asset has drawn significant attention from the crypto community. Binance founder and former CEO Changpeng Zhao (CZ) hailed the decision in a post on X (Twitter).
“BNB is now a Strategic Reserve asset in Bhutan,” CZ shared.
According to BNB Chain, Binance Coin BNB was selected alongside BTC and ETH due to its utility within the ecosystem. The network also highlights BNB Chain’s maturity, security, and scalability. It also indicated its ability to support on-chain transaction monitoring for transparency.
Kyle Chasse, a prominent crypto veteran, expressed his excitement, lauding Bhutan for its move to bet on crypto. Meanwhile, this pioneering move by GMC reflects the growing role of cryptocurrencies in national financial strategies. Bhutan’s decision aligns with a broader global trend of adopting crypto assets for reserves.
As BeInCrypto reported, the Czech National Bank is considering incorporating Bitcoin into its reserves. Similarly, Bitcoin reserves are gaining momentum in the United States, with 13 states leading the way in 2025.
Switzerland is also contemplating holding Bitcoin as a strategic reserve, further highlighting the increasing role of cryptocurrencies in financial innovation.
These moves reflect the growing role of cryptocurrencies in national financial strategies. By integrating digital assets into its reserves, GMC boosts its economic resilience while paving the way for wider adoption of blockchain technology in the region.
As other jurisdictions monitor Bhutan’s progress, this bold initiative may inspire similar efforts worldwide. Such an outcome would redefine how nations approach financial innovation and technological advancement.
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