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GMC to include Bitcoin and other digital assets in strategic reserves

GMC to include Bitcoin and other digital assets in strategic reserves

Gelephu Mindfulness City, GMC, has announced plans to adopt digital assets such as Bitcoin, Ethereum, and Binance Coin in its strategic reserves. According to a GMC social media post, the move makes the Special Administrative Region one of the first jurisdictions globally to officially hold digital assets as reserves. Strategic reserves refer to assets or resources set aside to ensure...

GMC to be governed by 18 Singaporean and 10 Abu Dhabi laws

GMC to be governed by 18 Singaporean and 10 Abu Dhabi laws

Singapore's 18 common laws and 10 Abu Dhabi Global Market financial services laws will govern Gelephu Mindfulness City. These laws, outlined in GMC Law No. 1 of 2024, also known as the Application of Laws Act 2024, will establish the governance framework for the Special Administrative Region, strengthening its autonomy and enhancing its ability to foster economic development. The new...

Country’s electricity sector expected to grow by 19.8% this year

PHPA-II generates 27 M units of electricity since commissioning last month

The Punatsangchhu-II Hydroelectric Project generated nearly 27 M units of electricity since the commissioning of two of its six units on the 17th of last month until Sunday. This is equivalent to 27 megawatts which is being consumed within the country to meet domestic demand. The PHPA-II authority has sold the electricity to Bhutan Power Corporation. Once fully operational, PHPA-II...

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