[Morning News Briefing] Bhutan's Gelephu Granted Authority to Hold BTC as Reserve Asset, etc.

Bhutan’s Gelephu Mindfulness City has secured the authority to hold Bitcoin and other digital assets as reserve assets after a royal decree granted its Gelephu Financial Services Office central-bank powers over monetary policy and foreign-exchange reserves, though no actual purchase plan was announced. Separately, the Capital Market Alliance sued the U.S. Commodity Futures Trading Commission to overturn its approval of single-stock perpetual futures, naming Coinbase and Kalshi among the venues affected. The moves matter because they extend crypto’s reach into sovereign reserve management and U.S. derivatives regulation at the same time. What to watch next is whether Gelephu actually begins buying BTC and how the CFTC responds to the challenge over single-stock perpetuals.