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The addition of bitcoin, ethereum, and binance coin as part of GMC’s strategic reserves will expand Bhutan’s digital assets ecosystem.
Bhutan’s GMC Adds BTC, ETH, and BNB to its Strategic Reserves
Bhutan‘s new special administration region, Gelephu Mindfulness City (GMC) has announced that it will acknowledge digital assets like BTC, ETH, and BNB as part of its strategic reserves.
This will make the region one of the first jurisdictions to hold digital assets as part of its strategic reserves formally. The GMC’s strategic reserves now include digital assets, an extension of the jurisdiction’s bitcoin mining activities, and will improve the SAR’s economic resilience.
GMC plans to identify digital assets with high market capitalizations and high liquidity for its strategic reserves to ensure easy buying and selling with little effect on prices. Furthermore, GMC will seek to identify digital assets issued on more developed, secure blockchains that monitor onchain transactions.
Sarah Song, Head of Business Development at BNB Chain remarked on the significance of this development for the blockchain ecosystem.
“The inclusion of BNB in Bhutan’s strategic reserve is validation of blockchain’s potential on a macroeconomic level and BNB’s value within the ecosystem. It highlights the growing confidence of institutions and governments in digital assets as part of their long-term strategic frameworks.”
This statement comes after GMC Law No. 1 of 2024 was passed in Dec. 2024 which established the legal framework for businesses looking to provide financial services involving digital assets in GMC. In addition to acknowledging digital assets like bitcoin, ethereum, and binance coin as part of GMC’s strategic reserves, implementing this law aims to support the expansion of GMC’s digital asset ecosystem.