Bhutan — crypto regulation

Status: restricted · Last reviewed 2026-11-05

Bhutan mined Bitcoin at sovereign scale through Druk Holding & Investments using hydropower, but on-chain data show its holdings fell about 70% from ~13,000 BTC in late 2024 to under 4,000 BTC by Apr 2026. The Royal Monetary Authority restricts public crypto access and limits mining and exchanges to the Gelephu Mindfulness City (GMC) zone, which has its own licensing regime, a fast-track for firms already licensed in major hubs, and DK Bank as banking partner. Up to 10,000 BTC was pledged in Dec 2025 to back GMC, and 3iQ was appointed in Jul 2026 to manage part of the GMC Bitcoin treasury.

Legislation