BTSE Bhutan obtains financial services license for digital asset trading and custody in Gelephu Mindfulness City.
Regulation & Gov ·
BTSE Bhutan has received a financial services license authorizing digital asset trading and custody operations in Gelephu Mindfulness City, according to reporting on the development. The license marks a regulatory step for the jurisdiction, which has been positioning itself as a crypto-friendly special administrative region offering zero-tax incentives to attract regulated Web3 firms.
Gelephu Mindfulness City has been fast-tracking cryptocurrency licenses and expanding banking access as part of a broader strategy to become a hub for digital asset businesses. The jurisdiction has already issued a gold-backed token on Solana and secured commitments from external managers to oversee portions of Bhutan's Bitcoin reserves, signaling deepening institutional integration.
The specifics of BTSE Bhutan's license scope, operational timeline, and capital requirements remain unclear from available material. The license's issuance follows months of heightened scrutiny on Bhutan's sovereign Bitcoin holdings, including tracked large-scale transfers to exchanges and third-party custodians.