Bhutan’s king decrees new central bank for ‘mindfulness’ city
Gelephu-based institution will be able to invest in digital assets, alongside conventional reserves
Bhutan is to establish an additional central bank with authority over a ‘mindfulness city’ in the south of the Himalayan country.
In a statement on November 2, the Gelephu Mindfulness City (GMC) announced that King Jigme Khesar Namgyel Wangchuck had signed a decree conferring a central banking mandate and powers to the Gelephu Financial Services Office (GFSO), thus enabling it to become the Gelephu Central Bank (GCB).
GMC was established in 2024 as an autonomous special administrative region (SAR)
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