Turkmenistan, Central Asia’s largest natural gas provider, is positioning itself as an important player in the cryptocurrency world with the adoption of a new law governing virtual assets. The legislation, which the country has enacted, permits crypto trading and mining. This significant legislation, started came into effect on January 1, marks a major step in Turkmenistan’s transformation of its financial ecosystem.
Turkmenistan Explores Crypto Mining and Trading Opportunities
Turkmenistan has now recognized the activities of crypto mining and trading as lawful. The latest reports reveal that Turkmenistan is aiming at creating a crypto regulatory framework integrating crypto mining and trading
In November 2025, President Serdar Berdimuhamedov enacted the bill, “Law of Turkmenistan on Virtual Assets.” This law lays down the licensing requirements for crypto exchanges, custodians, and miners, whereby the digital assets industry is secured and safe.
Notably, the government aims to tackle the escalating illegal activities in the sector, provide customer protection, and at the same time foster innovation. The new regulatory regime for crypto mining and trading permits only licensed entities to issue, handle, and carry out transactions with digital assets. The legislation imposes stringent compliance on these exchanges, which have to function under the constant oversight of the Cabinet of Ministers and the Ministry of Finance and Economy. The regulatory body has the power to suspend or cancel the licenses of crypto exchanges that do not comply with the regulations.
Significantly, this move comes as part of a broader trend of countries introducing new crypto regulations. The latest example includes the UK’s crypto tax regulations, which intend to prevent tax evasion.
Can Crypto Thrive in Turkmenistan?
Interestingly, Turkmenistan’s latest crypto regulations underscore the country’s commitment to fostering innovation. It also highlights a major transition from its previous approach to digital assets. Previously, the country has been recognized for its isolated policies, heavy capital controls, and tight government oversight. Also, due to its strict regulations on media, travel, and foreign investment, Turkmenistan has been considered one of the most isolated countries in the world.
Meanwhile, countries like Pakistan have also expressed interest in setting up their crypto mining activities. However, the IMF has rejected Pakistan’s Bitcoin mining project, which intended to use subsidized electricity tariffs.
While lesser-known countries like Turkmenistan are embracing crypto mining and trading, it sparks widespread enthusiasm in the community. However, the move has also sparked concerns, as the country’s strict internet controls and surveillance could hamper the crypto mining operations.
Source: https://coingape.com/crypto-mining-and-trading-go-legal-in-turkmenistan/
