Bhutan authorizes Gelephu central banking body to hold crypto assets
Bhutan has granted central banking powers to its Gelephu financial authority, permitting it to hold and invest in cryptocurrencies alongside traditional reserves and creating a pathway to introduce its own currency.
Bhutan's King has granted central banking authority to the Gelephu Financial Services Office, clearing the institution to invest in cryptocurrencies and digital assets alongside traditional reserves, according to reports by Cointelegraph and Bitcoin Magazine. Multiple crypto outlets, including Whale Insider and BlockNews, similarly reported that the entity—referred to as the Gelephu Central Bank—has received approval to hold crypto assets.[1][2][3][4]
The royal decree also opens a pathway for the Gelephu office to issue its own currency, including in digital form. According to Crypto Briefing, allowing cryptocurrencies to be held in central bank reserves could strengthen Bhutan's standing as a financial hub and draw international crypto companies and investment.[3][4][5]
Key facts
- Bhutan's King granted central banking powers to the Gelephu Financial Services Office.
- The newly authorized Gelephu central banking body is cleared to invest in cryptocurrencies and digital assets alongside traditional reserves.
- The royal decree opens a pathway for the Gelephu financial office to introduce its own currency, including in digital form.
- Crypto Briefing reported that allowing crypto in reserves could enhance Bhutan's financial hub status and attract global crypto firms and investments.
Sources · 5 sources
- WI
Whale Insider@WhaleInsiderPost on X ·
JUST IN: 🇧🇹 Bhutan's Gelephu Central Bank has been cleared to hold cryptocurrencies. https://t.co/5Gw0bGpN1S
Open source - BL
BlockNews@blocknewsdotcomPost on X ·
🚨 JUST IN: 🇧🇹 Bhutan's Gelephu Central Bank has reportedly been APPROVED to hold cryptocurrencies! https://t.co/bdshjSTbt9
Open source - CO
Cointelegraph@CointelegraphPost on X ·
🇧🇹 LATEST: Bhutan’s King grants central banking powers to the Gelephu Financial Services Office, including authority to invest in digital assets and cryptocurrencies and a pathway to introduce its own currency. https://t.co/k1ijLJMvYm
Open source - BM
Bitcoin Magazine@BitcoinMagazinePost on X ·
JUST IN: 🇧🇹 Bhutan's Gelephu Central Bank has been cleared to hold Bitcoin and crypto assets 👀 "The new Gelephu Central Bank will be allowed to invest in cryptocurrencies along side traditional reserves." 🚀 https://t.co/AREOin3ajW
Open source - CB
Crypto BriefingArticle ·
Bhutan’s Gelephu Central Bank cleared to hold crypto in its reserves Bhutan's move to allow crypto in central bank reserves could enhance its financial hub status, attracting global crypto firms and investments. The post Bhutan’s Gelephu Central Bank cleared to hold crypto in its reserves appeared first on Crypto Briefing .
Open source