Turkmenistan Legalizes Crypto Exchanges and Mining Operations

President Serdar Berdymukhamedov signed the legislation, and it comes into force on January 1, 2026, according to state media reports. The move signals a dramatic shift for a country long known for tight economic controls and heavy reliance on natural gas exports.

Turkmenistan’s decision matters because it shows how even traditionally cautious nations are embracing digital finance. With a legal framework now in place, the era of uncertainty around digital assets in Turkmenistan may be coming to an end.

What the New Law Means for Crypto in Turkmenistan

Under the new legislation, Turkmenistan will establish clear rules for the creation, storage, use, and circulation of virtual assets, a term that generally refers to digital tokens like Bitcoin and Ether that exist on blockchains. The law also defines the legal and economic status of these assets. To operate legally, crypto exchanges and mining companies must obtain licences, and miners must register with authorities, meeting technical and safety standards.

Importantly, the framework treats digital assets as property under civil law rather than currency. This means cryptocurrencies are not legal tender in Turkmenistan and cannot be used to pay for everyday goods or services. The Central Bank will oversee licensing and compliance measures such as know‑your‑customer (KYC) checks and anti‑money laundering controls.

This approach mirrors a wider global trend of governments adopting regulated frameworks for digital assets rather than banning them outright. Countries such as Kazakhstan and Uzbekistan have introduced similar rules to attract investment and manage risk.

A Regional Comparison: Kyrgyzstan’s Crypto Push

In neighboring Central Asia, Kyrgyzstan is another country positioning itself as a leader in blockchain innovation. It has launched a national stablecoin in partnership with global exchange Binance, aiming to support government payments and modernise its financial system. Kyrgyzstan’s efforts reflect a regional trend where countries see digital assets as tools for economic diversification and technological growth.

For example, the Kyrgyz stablecoin project includes features such as backing by national currency and ties to broader digital infrastructure. This illustrates how digital asset strategies can vary from regulated frameworks like Turkmenistan’s to more ambitious national systems.

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