Bhutan’s GMC offers quick licenses, bank accounts to lure crypto firms

Written by Christina Comben, Staff Editor. Reviewed by Bryan O'Shea, Staff Editor. Written by Christina Comben, Staff Editor. Reviewed by Bryan O'Shea, Staff Editor. Bhutan’s GMC offers quick licenses, bank accounts to lure crypto firmsLatest NewsPublishedMay 12, 2026Gelephu Mindfulness City in Bhutan is offering a faster licensing track with banking and zero‑tax incentives to attract regulated crypto firms willing to build long‑term operations.Gelephu Mindfulness City (GMC) in Bhutan is offering an accelerated licensing pathway for crypto and fintech companies already regulated in hubs such as Singapore, Hong Kong and Abu Dhabi, as the Himalayan territory pushes to position itself as a new South Asian financial center.The framework allows qualified companies to incorporate, obtain authorization from local regulators and open a corporate bank account through a coordinated process tied to DK Bank, GMC’s official banking partner, according to a Tuesday release shared with Cointelegraph.The move reflects growing competition among emerging jurisdictions seeking to attract crypto firms with streamlined regulation, banking access and tax incentives, as global regulators tighten oversight and warn against regulatory arbitrage.DK Bank will still run standard Know Your Customer (KYC) and Anti-Money Laundering (AML) checks, but Jigdrel Singay, a GMC board member and digital assets and fintech lead, told Cointelegraph that companies that clear the licensing process are expected to gain access to banking services through the coordinated framework. Singay stressed that the system is not a passport for offshore licenses and that firms must be authorized under GMC’s own rules.Existing approvals in other hubs mainly serve to streamline due diligence and cut down on duplicated documentation, he said, adding that regulatory standards and ongoing supervision remain under GMC’s control rather than being outsourced to foreign regulators, unlike the European Union’s Markets in Cry…

Bhutan’s GMC offers quick licenses, bank accounts to lure crypto firms

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