"Turkmenistan just legalized crypto mining and exchanges this year, marking a sharp policy shift for one of the world's most closed economies and fulfilling legislation that was accepted in November, 2025. President Serdar Berdimuhamedov signed the Law on Virtual Assets, bringing digital assets under civil law for the first time. The legislation creates a licensing regime for miners, exchanges, and custodial services overseen by the Central Bank of Turkmenistan."
"Cryptocurrencies will not yet be recognized as legal tender, currency, or securities. They cannot be used to pay for goods or services. The law defines virtual assets strictly as "property or investment instruments." The move stands out in a country known for tight state control. Turkmenistan maintains strict internet censorship and limited access to foreign platforms. Entry rules for foreigners have long been among the world's toughest."
"Under the new framework, both individuals and companies may mine cryptocurrencies. All miners must register with the central bank and meet technical standards. Covert mining practices, including cryptojacking, are banned. Crypto exchanges and custodians are also permitted to operate with a license. Domestic and foreign entities may own these services, except firms linked to offshore jurisdictions. Exchanges must enforce know-your-customer and anti-money laundering rules. Anonymous wallets and transactions are prohibited."
President Serdar Berdimuhamedov signed the Law on Virtual Assets, bringing digital assets under civil law and creating a Central Bank‑overseen licensing regime for miners, exchanges, and custodial services. Cryptocurrencies are defined as property or investment instruments and are not recognized as legal tender, currency, or securities; they cannot be used to pay for goods or services. Both individuals and companies may mine after registering and meeting technical standards; covert mining and cryptojacking are banned. Licensed exchanges and custodians must implement know‑your‑customer and anti‑money‑laundering measures; anonymous wallets and transactions are prohibited. The law aims to support economic development and attract foreign capital.
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