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Binance’s CZ Praises Bhutan’s Crypto Reserve Move

Binance’s
Royal Government of Bhutan Shifts 406 BTC ($40M) to QCP Capital, Still Holds $1.2B in BTC

In a recent development, Binance Co-Founder Changpeng Zhao has expressed support for Bhutan’s bold decision to include cryptocurrencies in its strategic reserves. Recently, Gelephu Mindfulness City (GMC) in Bhutan, a Special Administration Region, added Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) to its strategic reserves. In a statement, GMC noted that it will only invest in assets that are issued on secure blockchains and where on-chain transactions can be monitored. For its strategic reserves, GMC plans to only include digital assets that have a large market capitalization and are highly liquid. CZ praised Bhutan for its liberal approach to cryptocurrency, highlighting the country’s openness to blockchain technology. He noted that this is a strategic move by the country to attract crypto firms, investments, and innovations.

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