Turkmenistan Legalizes Crypto Mining and Exchanges Under Tight State Control
Turkmenistan legalized crypto mining and exchanges under strict state licensing and oversight by the Central Bank.Summary
Turkmenistan has legalized cryptocurrency mining and exchanges through the Law on Virtual Assets, signed by President Serdar Berdimuhamedov and effective January 1, 2026. This marks a significant policy shift for the highly closed economy, aiming to support economic development and attract foreign capital. The legislation establishes a licensing regime for miners, exchanges, and custodial services, all overseen by the Central Bank of Turkmenistan. Cryptocurrencies are explicitly not recognized as legal tender, currency, or securities and cannot be used for payments; they are defined only as property or investment instruments. All miners must register and adhere to technical standards, banning covert mining. Exchanges must enforce KYC/AML rules, prohibiting anonymous transactions, and ownership by firms linked to offshore jurisdictions is restricted. Supervision involves the Cabinet of Ministers and the Ministry of Finance and Economy, with regulators holding power to revoke licenses.
(Source：Bitcoin Magazine)