Gelephu Mindfulness City to Lead in Blockchain Adoption, Adds Bitcoin & Ether to Reserves
Gelephu Mindfulness City, a pioneering project announced by Bhutan's King Jigme Khesar Namgyel Wangchuck in December 2023, is set to become a model for sustainable urban development and mindfulness. The city aims to create a regulatory environment that encourages innovation while ensuring security. It has recently promulgated the GMC Law No. 1, providing a solid legal foundation for digital asset companies.
The city is taking significant steps towards digital asset integration. It plans to incorporate Bitcoin and Ether into its strategic reserves, aiming to diversify its assets and establish itself as a leader in financial innovation and blockchain adoption. In March 2025, the city will host a high-level meeting to discuss the recognition of digital assets as part of a jurisdiction's strategic reserves and to establish an international advisory panel on digital assets. Gelephu Mindfulness City is leveraging its abundant hydroelectric energy to support blockchain adoption and reduce the environmental impact of Bitcoin mining. The city is prioritizing assets on mature and secure blockchains for transparent transaction monitoring.
The decision to incorporate cryptocurrencies into the city's strategic reserves has significant implications for the region, reflecting a cultural shift towards greater acceptance and understanding of digital technologies. As the city continues to develop, it is expected to play a crucial role in shaping Bhutan's economic landscape and digital future.
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