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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.
Techub News, according to CryptoBriefing, Gelephu Mindfulness City in Bhutan has partnered with DK Bank to launch a fast-track licensing channel, offering multi-currency accounts and bitcoin-backed loans to companies already regulated in leading jurisdictions, aiming to shorten the time from approval to operation for businesses. The special economic zone aims to create a platform for financial and digital asset innovation by integrating regulatory frameworks with infrastructure. Bhutan has committed up to 10,000 bitcoins to fund the city's development, utilizing bitcoin mined from surplus hydropower to support infrastructure construction and economic resilience.
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