Bhutan Officially Adds BTC, ETH, and BNB to State Reserves
Bhutan’s newly established special administrative region, Gelephu Mindfulness City (GMC), has announced the inclusion of select digital assets in its strategic reserves. This makes Gelephu the first region to formally adopt cryptocurrencies as part of its state reserves.
The announcement was made on the official city website on January 8, 2025, and further amplified on X by Binance.
Located in southern Bhutan near the Indian border, Gelephu is a vital transport hub connecting South Asian economies. Blockchain technology has been identified as a cornerstone of its economic development strategy. This decision follows the passage of the “Application of Laws Act 2024” in December, which established regulations for financial services involving digital assets.
Gelephu Mindfulness City, Bhutan. Source: Facebook
In addition, Bhutan has been actively mining cryptocurrencies in recent years, leveraging its abundant hydropower resources. By some estimates, BTC mining revenues contribute significantly to the country’s GDP. Including BTC, ETH, and BNB in state reserves is seen as a logical extension of this policy.
Related: Bhutan Turns to Bitcoin Mining in Hope of Economic Miracle
In March 2025, Bhutan will host an international conference featuring government officials and institutional investors to discuss the use of virtual currencies in state reserves and establish a Digital Asset Advisory Committee for Gelephu.
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