Bhutan's Gelephu Mindfulness City has received royal approval for a central bank that can invest in cryptocurrencies alongside traditional reserve assets. The decree follows earlier plans for Bitcoin, Ether and BNB reserves and a Bitcoin pledge of up to 10,000 BTC.
Gelephu Mindfulness City (GMC) received royal approval for a central bank empowered to invest in cryptocurrencies alongside traditional reserve assets. GMC listed the approval in a Nov. 2 announcement, and Bhutan's public broadcaster BBS reported that King Jigme Khesar Namgyel Wangchuck signed the decree.
The Gelephu Financial Services Office will transition into the autonomous Gelephu Central Bank. Its responsibilities will combine supervision of financial institutions with monetary policy, management of foreign reserves, and financial stability within the special administrative region.
Gelephu Central Bank receives reserve and currency powers
However, the reported mandate does not specify a Bitcoin purchase amount or a fixed allocation to any particular token. The decree also authorizes payment and settlement systems, liquidity support when necessary, and development of money and capital markets, according to BBS's account of the news release.
It provides a pathway for GMC to introduce its own currency, including a digital version, subject to the King's concurrence. GMC occupies more than 4,046 square kilometers in southern Bhutan, bordering India's Assam state, and was established by Royal Charter in February 2024.
Bitcoin reserve plans began before the decree
The region's crypto reserve policy predates the new central bank announcement. In January 2025, GMC named Bitcoin, Ether and BNB among assets it intended to recognize as strategic reserves.
Bhutan then announced a Bitcoin Development Pledge in December 2025, committing up to 10,000 BTC to support GMC's long-term development. Under that initiative, GMC was evaluating collateralization, risk-managed yield strategies, and long-term holding arrangements.
3iQ already manages part of the Bitcoin treasury
In July, GMC appointed Canadian digital asset manager 3iQ to oversee a dedicated mandate backed by an undisclosed portion of its Bitcoin treasury. The agreement did not disclose the quantity of Bitcoin assigned to the manager.
Meanwhile, recruitment for the central bank transition covers more than 50 positions for Bhutanese and international professionals. The roles span virtual asset supervision, anti-money laundering, banking operations, technology, regulatory policy, and macroeconomics.
Source: crypto.news
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