Bhutan’s Gelephu Central Bank cleared to hold crypto in its reserves

A royal decree turns Gelephu's financial regulator into a central bank that may add digital assets alongside traditional holdings Bhutan just gave a special economic zone its own central bank. That central bank is allowed to own crypto. A Royal Decree from King Jigme Khesar Namgyel Wangchuck has elevated the Gelephu Financial Services Office (GFSO) into the autonomous Gelephu Central Bank (GCB). The new institution serves Gelephu Mindfulness City (GMC), a special administrative region in southern Bhutan. Its reserves can include digital and crypto assets, sitting next to the usual traditional holdings. What the decree actually does The decree was signed on November 1-2, 2026. It gives GCB a full set of central banking powers within GMC’s borders. Those powers cover three big areas. GCB will manage monetary policy, oversee foreign reserves and supervise financial institutions operating in the city. The crypto piece is the headline-grabber. GCB is permitted to invest in digital and cryptocurrency assets as part of its reserve portfolio. That permission is optional, not a mandate. The bank can hold crypto, but nothing in the decree forces it to buy any. The stated aim is to strengthen...