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Bhutan’s Gelephu to Have Its Own Central Bank That Can Invest in Crypto

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Bhutan’s Gelephu to Have Its Own Central Bank That Can Invest in Crypto

Bhutan is establishing a central bank for Gelephu Mindfulness City (GMC) with powers to conduct monetary policy and invest in cryptocurrencies.

King Jigme Khesar Namgyel Wangchuck signed a Royal Decree to transform the Gelephu Financial Services Office into the autonomous Gelephu Central Bank (GCB).

GCB will manage foreign reserves, oversee financial stability, regulate financial institutions and supervise payment systems.

It can also provide liquidity support when needed and issue central bank securities.

The bank will have authority to invest in digital assets alongside conventional reserves.

GMC could also introduce its own currency, including in digital form, subject to the King’s approval.

“Our priority is to build an institution that combines strong regulatory standards, modern financial infrastructure and an openness to responsible innovation.

We want to create the confidence and capabilities that will allow businesses, investors and financial institutions to thrive in GMC over the long term.”

The bank is opening more than 50 positions to Bhutanese and international professionals.

The roles cover digital asset supervision, anti-money laundering, banking operations, technology risk and regulatory policy.

Featured image: Edited by Fintech News Singapore, based on image by DC Studio via Magnific



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