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

By Lawrence Mondal

Bhutan’s Gelephu Mindfulness City has received royal approval for a central bank empowered to invest in cryptocurrencies alongside traditional reserve assets. Gelephu Mindfulness City listed the royal approval in a Nov. 2 announcement, while Bhutan’s public broadcaster BBS reported that…

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Central bank

The public institution that manages a country's currency, money supply and benchmark interest rate, such as the Federal Reserve or the Reserve Bank of India.

Its decisions on rates and money supply move loan costs, currencies and markets for everyone in the economy.

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Cryptocurrency

A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.

Crypto prices are volatile, and governments are still deciding how to regulate it.

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