Key Points
- Bhutan’s GMC will recognize digital assets including BTC, BNB, and ETH as part of its strategic reserves.
- The move will enhance economic resilience and it’s an evolution in the region’s involvement in BTC mining.
Today, January 8, an official press release revealed that the Gelephu Mindfulness City (GMC), Bhutan’s new Special Administration Region, announced its intention to recognize crypto including BTC, ETH, and BNB as part of its strategic reserves.
This will reportedly make the Special Administration Region (SAR) one of the first jurisdictions to officially hold digital assets as part of its strategic reserves.
Also, this inclusion will boost the SAR’s economic resilience and it’s an evolution of the jurisdiction regarding BTC mining, official notes reveal.
Earlier today, Binance’s co-founder, Yi He, shared the announcement via X, saying that today, “we are all Bhutanese.”
A Major Milestone for Blockchain Adoption
This is an important move made by the region as the GMC’s decision highlights the trust and stability of BNB, BTC, and other cryptos to:
- Enhance the region’s economic resilience
- Support a progressive, well-regulated Web3 environment
BNB Chain also shared the announcement via X, highlighting the importance of BNB being chosen for the region’s crypto reserves alongside BTC and ETH.
BNB’s Addition To GMC’s Crypto Reserves
BNB Chain highlighted a few reasons why BNB was added to the upcoming GMC digital asset reserves:
- BNB has a utility within the BNB Chain ecosystem.
- The maturity, security, and scalability of BNB Chain.
- Its ability to support on-chain transaction monitoring for transparency.
The GMC strategic crypto reserve will bolster:
- Economic stability with assets of high liquidity and market cap
- A thriving blockchain ecosystem within a region that’s servicing more than 2 billion people across South Asia
One of the region’s key economic focuses is promoting and supporting the use of blockchain technology, in line with SAR’s emphasis on innovation and pioneering new technologies.
