Bhutan: A royal decree opens the future central bank's reserves in Gelephu to cryptocurrencies

Cryptocurrencies within the mandate of a central bank. A royal decree paves the way for the transformation of the Gelephu Financial Services Office into the Gelephu Central Bank in Bhutan. Announced on November 2, the decision allows the future institution to invest in digital assets alongside conventional reserves.

This authority will operate in Gelephu Mindfulness City, a special administrative region located in the south of the kingdom. Its implementation timeline and coordination with the national central bank remain to be clarified.

Key Points

• A royal decree grants central banking powers to the financial regulator of Gelephu.
• Its mandate allows investments in cryptocurrencies without mandating the purchase of a specific token.
• The framework includes the possibility of a local currency, potentially digital, with the king's approval.
• Operational modalities and relationships with the national monetary authority have not yet been publicly detailed.

Gelephu prepares a central bank authorized to invest in crypto

King Jigme Khesar Namgyel Wangchuck has granted the Gelephu regulator an expanded mandate, according to the official announcement from the city. The institution is to evolve into an autonomous central bank.

Its competencies will cover monetary policy, reserve management, financial stability, and supervision of institutions in the area. It will also be able to develop payment and settlement systems, as well as provide liquidity support when necessary.

The crypto aspect is explicitly included in the announced powers. According to public media Bhutan Broadcasting Service, the bank will be allowed to invest in digital assets and cryptocurrencies, in addition to traditional reserve assets.

The decree also opens the possibility of a currency specific to Gelephu, including in digital form. However, its introduction would require the king's approval: no immediate issuance is announced. ![A royal decree paves the way for the transformation of the Gelephu Financial Services Office into the Gelephu Central Bank in Bhutan. Announced on November 2, the decision allows the future institution to invest in digital assets alongside conventional reserves.

This authority will operate in Gelephu Mindfulness City, a special administrative region located in the south of the kingdom. Its implementation timeline and coordination with the national central bank remain to be clarified.](https://journalducoin-com.exactdn.com/app/uploads/2026/11/Bhoutan-crypto-Bitcoin-Banque-centrale-Gelephu.png?strip=all&quality=90&webp=90&lazy=1) ![A royal decree paves the way for the transformation of the Gelephu Financial Services Office into the Gelephu Central Bank in Bhutan. Announced on November 2, the decision allows the future institution to invest in digital assets alongside conventional reserves.

This authority will operate in Gelephu Mindfulness City, a special administrative region located in the south of the kingdom. Its implementation timeline and coordination with the national central bank remain to be clarified.](https://public.chaincatcher.com/upload/news/202611/4c522e950719433d91edf7eeb033aebd.png)

A local autonomy whose functioning remains to be defined

Gelephu Mindfulness City has a distinct administrative and legal framework, while remaining an integral part of Bhutan. Established by royal charter in February 2024, this border region with India prioritizes finance and digital assets as one of its key sectors.

However, the announced autonomy does not imply a complete separation from the national monetary system. The Royal Monetary Authority remains Bhutan's central bank and the issuer of banknotes and coins in ngultrum. According to Daily Bhutan, the modalities of cooperation between the two institutions regarding exchanges, payments, and monetary policy have not yet been publicly explained.

The composition of reserves, the rules for holding cryptocurrencies, and risk limits also remain to be established. Implementation requires specialized teams: over fifty positions are announced, particularly in the supervision of virtual assets, payments and anti-money laundering.

The decree thus provides Gelephu with an institutional basis to integrate digital assets into its financial management. Slowly but surely, Bhutan continues its national policy of integrating bitcoin and cryptocurrencies into the economy.

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