Gelephu Mindfulness City (GMC), Bhutan’s new Special Administration Region, today announced its intention to recognise digital assets such as Bitcoin (BTC), Ether (ETH) and BNB as part of its
strategic reserves, making the Special Administrative Region (SAR) one of the first
jurisdictions to officially hold digital assets as part of its strategic reserves. The inclusion
of digital assets in the GMC’s strategic reserves will enhance the SAR’s economic
resilience, and is an evolution of the jurisdiction’s involvement in bitcoin mining.
For its strategic reserves, GMC intends to recognise digital assets that have large
market capitalisations and deep liquidity to ensure that they can be easily bought and
sold with minimal price impact. In addition, GMC will look to recognise digital assets that
are issued on more mature, secure blockchains that support monitoring of on-chain
transactions.
Located on the land bridge connecting the rapidly-growing economies of South Asia,
GMC is uniquely positioned to serve the more than two billion people in the region, and
one of its key economic focuses is on promoting and supporting the use of blockchain
technology, in line with the SAR’s emphasis on innovation and pioneering of new
technologies.
This announcement follows the enactment of GMC Law No. 1 of 2024, or the
‘Application of Laws Act 2024’, which was announced on 26 December 2024. The
enacted set of laws for GMC included establishing the legal and regulatory framework in
GMC for companies seeking to offer financial services involving digital assets. The
enactment of this law, coupled with recognising digital assets such as BTC, ETH and
BNB as part of GMC’s strategic reserves, is intended to bolster the growth of the digital
asset ecosystem in GMC within a technologically progressive, yet well-regulated
environment.
In March 2025, GMC plans to convene a high-level meeting in the Kingdom of Bhutan of
senior government officials and industry leaders from across the world to discuss the
recognition of digital assets as part of a jurisdiction’s strategic reserves, and the setting
up of an international advisory panel on digital assets for GMC.
About Gelephu Mindfulness City
The Gelephu Mindfulness City Special Administrative Region (GMC SAR) is a
pioneering initiative creating an urban environment in the southern plains of Bhutan
centred around mindfulness, sustainability and innovation.
The SAR integrates traditional Bhutanese values, globally accepted legal frameworks, cutting-edge design
and technology and harnesses the Kingdom’s abundant green power to serve as a
global exemplar of holistic development.
Please visit www.gmc.bt or contact us at
info@gmc.bt for more information or contact invest@gmc.bt if you wish to incorporate a
company in GMC.
