The U.S. government has reportedly been cleared to sell 69,370 bitcoin — a haul valued at roughly $6.5 billion — seized from the now-defunct Silk Road darknet marketplace. 

Thailand is set to launch a pilot program allowing foreign visitors to use cryptocurrency for payments in Phuket, one of its most popular tourist destinations, in an initiative aiming to offer an alternative payment option and integrate digital currencies.

Gelephu Mindfulness City (GMC), a special administrative region in Bhutan, has announced plans to incorporate cryptocurrencies including bitcoin, ether, and BNB into its strategic reserves.

Top stories in the Crypto Roundup today:

• U.S. Government Cleared to Sell $6.5 Billion in Seized Silk Road BTC
• Thailand Launches Crypto Payment Pilot Program for Tourists in Phuket
• Bhutan SAR to Incorporate BTC, ETH, and BNB into Strategic Reserves

U.S. Government Cleared to Sell $6.5 Billion in Seized Silk Road BTC

The U.S. government has reportedly been cleared to sell 69,370 bitcoin — a haul valued at roughly $6.5 billion — seized from the now-defunct Silk Road darknet marketplace. 

As first reported by DB News, and according to court documents, Chief U.S. District Judge Richard Seebord denied a motion to block the forfeiture of the seized BTC, clearing the U.S. Department of Justice to sell the seized $6.5 billion in bitcoin.

The sell-off could be occurring right before President-elect Donald Trump takes office, having campaigned on a pro-crypto stance with proposals that include the creation of a strategic bitcoin reserve using those seized funds.

CryptoQuant CEO Ki Young Ju commented that last year $379 billion entered the market, meaning roughly $1 billion per day was coming in. He added this means that the sell-off of $6.5 billion “could be absorbed in just a week.”

Blockchain data shows that the wallet associated with the seized funds hasn’t yet moved any of its coins.

Thailand Launches Crypto Payment Pilot Program for Tourists in Phuket

Thailand is set to launch a pilot program allowing foreign visitors to use cryptocurrency for payments in Phuket, one of its most popular tourist destinations, in an initiative aiming to offer an alternative payment option and integrate digital currencies.

The pilot program was announced by Deputy Prime Minister and Finance Minister Pichai Chunhavajira at a seminar organized by the Marketing Association of Thailand. The program will operate within existing legal frameworks, requiring no amendments to current laws.

The country’s Finance Minister noted that the program is designed to make digital transactions more accessible in “tourist-focused cities” and will not feature “anything that is illegal.”

Foreign tourists looking to take advantage of the program will need to verify their identities before using cryptocurrencies for payments, and a clearinghouse will convert these transactions into Thai baht.

Bhutan SAR to Incorporate BTC, ETH, and BNB into Strategic Reserves

Gelephu Mindfulness City (GMC), a special administrative region in Bhutan, has announced plans to incorporate cryptocurrencies, including bitcoin, ether, and BNB, into its strategic reserves.

The initiative, announced Wednesday, would position GMC as one of the first jurisdictions in the world to officially hold cryptocurrency reserves and would aim to bolster its economic resilience while building upon existing bitcoin mining operations.

The GMC, envisioned by King Jigme Khesar Namgyel Wangchuck, is an ambitious sustainable urban development and economic innovation project spanning over 2,500 square kilometers near the border with India. It aims to serve more than two billion people in the surrounding area.

Beyond bitcoin, ether, and BNB, the special administrative region said it plans to “recognize digital assets that have large market capitalizations and deep liquidity to ensure that they can be easily bought and sold with minimal price impact.”

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