TLDR
- Turkmenistan has legalized cryptocurrency mining and trading under a new law signed by President Serdar Berdimuhamedov.
- The law introduces a licensing system for crypto exchanges regulated by the country’s central bank.
- Cryptocurrencies are not recognized as legal tender, securities, or payment methods under the legislation.
- Crypto activities are limited to licensed entities, with no approval yet for foreign exchanges or broader blockchain use.
- The law marks the latest regulatory update after earlier reforms, including electronic visa adoption in April 2025.
Turkmenistan has legalized cryptocurrency mining and trading under a new law signed by President Serdar Berdimuhamedov. The legislation places virtual assets under civil law and introduces formal oversight for crypto-related activities. Regulation of exchanges will fall under the authority of the country’s central bank. However, cryptocurrencies remain barred from use as legal tender, securities, or payment instruments.
Licensing Framework Governs Crypto Mining and Exchanges
The new law allows cryptocurrency mining and exchange services to operate through a central bank licensing system. Virtual assets are legally defined as property but excluded from monetary or payment classifications. All crypto exchanges must meet compliance standards set by financial regulators before receiving approval. Licences apply only to approved domestic operations under national oversight rules. The law took effect following its official publication on Thursday.
Cryptocurrency trading is permitted only within the licensed exchange framework outlined by the legislation. The rules prohibit using digital assets for retail purchases, wage payments, or debt settlement. The government has not outlined tax treatment or reporting requirements for crypto holdings. Internet access remains tightly regulated, limiting direct access to foreign platforms. Authorities have not confirmed approvals for international exchanges operating locally.
Market Controls Remain Despite Crypto Legalization
The legislation does not introduce crypto payment infrastructure or integration with state financial systems. Blockchain use outside mining and exchange activity was not addressed in the legal text. The government also did not announce plans for a digital national currency. Oversight remains centralized, with all crypto activity subject to regulatory review. The framework restricts participation to licensed entities operating within defined legal boundaries.
Turkmenistan adopted electronic visa regulations in April 2025, reflecting recent administrative changes. The crypto law follows that reform but applies strictly to digital asset activity. Officials have not released further guidance on market expansion or user participation. Crypto mining and trading remain the only legally defined crypto activities. The law represents the most recent regulatory update concerning digital assets in the country.
