Bhutan Grants Gelephu Central Bank Authority to Hold Crypto Reserves

The authorization grants the newly formed Gelephu Central Bank comprehensive powers to manage liquidity, supervise financial institutions, and develop capital markets. While the decree permits investment in digital assets, it stops short of setting fixed allocations for Bitcoin or other tokens. The move formalizes a strategy that has been in development since the region’s establishment by Royal Charter in early 2024.

This transition builds on existing initiatives, including a commitment of up to 10,000 BTC aimed at long-term economic development. Unlike other nations that acquire crypto through criminal seizures, Bhutan secures its reserves by converting surplus hydroelectric power into digital assets through state-backed mining operations. The region has already appointed the Canadian firm 3iQ to manage a portion of its Bitcoin treasury, signaling a intent to integrate international expertise into its financial infrastructure.

To support these expanded functions, the Gelephu Central Bank is currently recruiting for more than 50 specialized roles. These positions range from macroeconomic policy and banking operations to virtual asset supervision and anti-money laundering compliance. By placing traditional finance and virtual asset businesses under a unified regulatory framework, the region seeks to establish a "One Country, Two Systems" model that attracts global investment while maintaining independent financial oversight.