Bhutan's GMC launches fast-track licensing channel for cryptocurrency companies

Techub News reports, according to CryptoBriefing, that Bhutan's special economic zone, Gelephu Mindfulness City (GMC), has launched a fast-track licensing channel for crypto enterprises. This channel is open to companies that have already obtained regulatory approval in Singapore, Hong Kong, or the Abu Dhabi Global Market, integrating company registration, regulatory approval, and banking access services.

The economic zone offers a potential zero corporate income tax rate for priority industries and provides green energy support leveraging Bhutan's abundant hydropower resources. This initiative aims to attract cryptocurrency exchanges, fintech startups, and blockchain infrastructure providers, streamlining the due diligence process by utilizing the credibility of existing regulatory bodies.