BTSE Bhutan has received an In-Principle Approval from the Gelephu Financial Services Office for a Financial Services License. The milestone is a step toward allowing the firm to operate a regulated virtual asset trading platform and custody service within Bhutan’s Gelephu Mindfulness City special administrative region.
BTSE Bhutan has received an In-Principle Approval from the Gelephu Financial Services Office. This preliminary step could lead to a full Financial Services License for the company.
The license would permit two regulated activities within the Gelephu Mindfulness City framework. BTSE Bhutan could operate a multilateral trading facility and provide institutional-grade custody for virtual assets.
The company aims to build a compliant ecosystem in the special administrative region. It also plans to hire local talent for its on-the-ground team in Bhutan.
CEO Yew Chong Quak stated the firm is honored by the approval. “Our sole focus is on building a robust, fully compliant virtual asset ecosystem here in Bhutan,” he said.
The company must still satisfy all regulatory pre-conditions. The final license issuance remains subject to the GFSO’s complete satisfaction.
This In-Principle Approval is not a final license. It represents a regulatory milestone before operations can begin.
Gelephu Mindfulness City is a special administrative region in southern Bhutan. It is designed as an economic hub centered on mindfulness and sustainability.
For more information, visit www.gmc.bt or contact info@gmc.bt. Investment inquiries can be directed to invest@gmc.bt.
