Turkmenistan legalizes crypto mining and exchanges

Turkmenistan has legalized cryptocurrency mining and trading, Azernews reports, citing foreign media.

The new legislation, signed on Thursday by President Serdar Berdimuhamedov, brings virtual assets under the country’s civil law framework and introduces a licensing system for cryptocurrency exchanges. Under the law, exchanges will be regulated by Turkmenistan’s central bank, representing the first formal legal framework for crypto-related activities in the country.

At the same time, cryptocurrencies will not be recognized as legal tender, currency, or securities. Existing regulations on internet access and digital services remain unchanged.

Turkmenistan’s economy is largely dependent on natural gas exports, with China as its main buyer. The country is also continuing work on the Turkmenistan–Afghanistan–Pakistan–India (TAPI) gas pipeline project.

The legislation on digital assets comes amid other regulatory changes. In April last year, Turkmenistan adopted a law introducing electronic visas, aimed at simplifying entry procedures for foreign visitors.

Since gaining independence in 1991, Turkmenistan has maintained a tightly regulated economic and administrative system. Recent legislative steps indicate adjustments in specific regulatory areas while preserving existing governance structures.