Is Crypto Legal in Bhutan?

Cryptocurrency in Bhutan exists in a state of restricted legality, where it is officially embraced for state-led initiatives but is not openly accessible to the general population. The Royal Monetary Authority has adopted a phased and focused strategy toward cryptocurrency to protect citizens and ensure financial stability while supporting responsible innovation (1). Crypto mining and exchanges are allowed only for Gelephu Mindfulness City registered entities and business partners, regulated under the GMC regulatory framework, while on-ramping for crypto trading through domestic banks regulated by the RMA continues to be restricted.

Bhutan has become the first country to launch a national cryptocurrency tourism payment system in partnership with Binance Pay and DK Bank, enabling fully cashless travel using cryptocurrencies. The system supports over 300 cryptocurrencies like Binance Coin, Bitcoin, and USD Coin, facilitating seamless QR code-based real-time payments (2). This initiative seeks to lower transaction costs, boost tourism, and improve financial inclusion in Bhutan while maintaining strict regulatory oversight through controlled adoption strategies.

"The Royal Monetary Authority of Bhutan will take a phased and focused strategy to crypto currency, to protect citizens and ensure financial stability while supporting responsible innovation."

Despite these progressive initiatives, cryptocurrency is not considered legal tender in Bhutan, and the government maintains tight regulatory controls over domestic crypto activities. The RMA continues to monitor developments in the digital asset space while strengthening Bhutan's capacity and capability on cryptocurrencies (1). The country's approach reflects a careful balance between exploring blockchain technology for economic diversification and protecting its financial system from potential risks associated with unregulated digital assets, demonstrating Bhutan's commitment to responsible innovation in the cryptocurrency sector.

Source:
https://www.rma.org.bt/view_news/106/
https://www.drishtiias.com/daily-updates/daily-news-analysis/bhutan-launched-first-crypto-tourism-payment

Last updated: 18-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.