Bhutan’s GMC introduces tax incentives and expedited licensing to attract crypto firms, backed by a 10,000 BTC sovereign reserve pledge.
Bhutan’s Gelephu Mindfulness City (GMC) is offering fast-tracked licenses and bank accounts to crypto firms, alongside income tax breaks for foreign employees until 2030. The initiative aims to foster real operations and job creation rather than profit-shifting structures, according to officials.
The project is underpinned by a 2025 Bitcoin Development Pledge, where Bhutan committed up to 10,000 BTC from sovereign reserves as strategic backing. Blockchain analytics firms recently flagged BTC outflows linked to Bhutan, including a $8.1 million transaction, though officials denied sales, insisting reserves remain intact.
Market observers note the move aligns with Bhutan’s broader push to diversify its economy beyond hydropower, leveraging crypto sector growth. The tax incentives and licensing perks target firms seeking regulatory clarity and operational ease in emerging markets.