Bitget signs licensing agreement to operate crypto exchange in Bhutan's Gelephu Mindfulness City development zone.
Regulation & Gov ·
Bitget has signed a licensing agreement to operate a regulated cryptocurrency exchange within Bhutan's Gelephu Mindfulness City, a special administrative development zone valued at $100B. The arrangement positions the exchange platform to tap into a jurisdiction that is actively fast-tracking crypto licenses and offering zero-tax incentives to attract regulated Web3 firms.
Gelephu Mindfulness City is designed as a crypto-friendly hub within Bhutan, a Himalayan nation that has become one of the most closely watched players in the digital asset space. The zone is offering direct bank access alongside regulatory frameworks to licensed operators, supported in part by Bhutan's substantial Bitcoin reserves, which were accumulated through sovereign mining operations powered by the country's surplus hydropower capacity.
The full scope of Bitget's operational timeline and capital deployment under the licensing agreement remains unclear from available reporting. It is also not yet specified whether the exchange will serve only the Gelephu zone or operate more broadly across Bhutan, or what specific regulatory compliance standards Bitget must meet to commence operations.