Gelephu Mindfulness City Enacts Law No. 1, Boosting Digital Asset Adoption
Gelephu Mindfulness City, a pioneer in digital asset integration, has enacted the GMC Law No. 1. This legislation establishes a robust legal framework for digital assets, marking a significant stride towards a global leadership role in blockchain technology.
The city's cryptocurrency reserves are substantial, currently totaling 11,688 BTC, valued at around $1.11 billion, and 656,039 ETH, worth approximately $2.2 million. Notably, a significant portion of these reserves stem from Bitcoin mining, contributing to the local economy.
Gelephu Mindfulness City is prioritizing assets issued on mature and secure blockchains for its reserves. This strategic approach aims to diversify its assets and solidify its position as a global leader in blockchain adoption. The city's abundant hydroelectric energy is also being harnessed to drive blockchain technology adoption and mitigate the environmental impact of Bitcoin mining.
In March 2025, the city plans to host a high-level meeting to discuss the recognition of digital assets. This event will also see the establishment of an international advisory panel on digital assets. The Royal Monetary Authority (RMA)-backed administration, operating through the Gelephu Mindfulness City Authority, will oversee this initiative as part of their regulated digital finance framework and cryptocurrency strategy.
Gelephu Mindfulness City's integration of digital assets like Bitcoin and Ether into its strategic reserves has significant economic implications for the region. This move reflects a cultural shift towards greater acceptance of digital technologies. With the upcoming high-level meeting and the establishment of an international advisory panel, the city continues to pave the way for global recognition and adoption of digital assets.
