Bhutan's Gelephu Mindfulness City launches fast-track licensing for regulated crypto firms

Gelephu Mindfulness City, Bhutan’s Special Administration Region for economic development, launched a new licensing pathway on Tuesday that will accelerate the process for globally regulated firms, including digital asset companies.

In a press release, the city said the initiative will enable qualified firms to quickly advance from the application stage to full operations by offering an integrated review that combines regulatory and banking access.

Such companies are eligible for the accelerated licensing process if they already hold licenses from established financial hubs such as Singapore, Abu Dhabi Global Market (ADGM), and Hong Kong.

"In most jurisdictions, licensing and banking are separate, sequential processes — often resulting in months of delay, even after regulatory approval, with no guarantee of securing a bank account," the press release stated. "In GMC, they are integrated."

GMC explained that companies that incorporate and receive a license in the city are provided with a corporate bank account through DK Bank.

Tax benefits

Furthermore, GMC said the city offers a comprehensive tax framework for real business activity, capital formation, and long-term investment.

This includes 0% corporate tax for certain companies in priority sectors, contingent on the level of company investment, and a territorial tax system that taxes income only originating domestically. It also offers zero capital gains tax, dividend tax, or inheritance tax, and foreign tax exemptions through 2030.

"GMC is designed to remove friction from the system. If a company has already demonstrated credibility in leading jurisdictions, we recognize that — and enable them to move faster," said Jigdrel Singay, Board Member and Digital Assets & Fintech Lead, Gelephu Mindfulness City. "This accelerated pathway, combined with immediate access to banking, fundamentally changes the setup experience. Companies don’t just get approved — they get operational."

Singay added that GMC's goal is to create a trusted platform for digital assets and financial innovation, aligning regulation, infrastructure, and execution from the outset.

Bitcoin transfers

The news comes after the Royal Government of Bhutan transferred approximately 100.44 BTC ($8.2 million) to an unlabeled address earlier on Tuesday, continuing an outflow streak that has topped $230 million so far this year, according to Arkham.

Bhutan had been mining bitcoin to build up its reserves, leveraging its abundant hydroelectric power to drive eco-friendly mining operations. However, speculation has grown over whether the government has stopped mining, as its last bitcoin inflow exceeding $100,000 occurred more than a year ago, per Arkham.