Turkmenistan has officially legalized domestic cryptocurrency mining and trading as a new law regulating digital assets came into full effect on Thursday.
In late November, Turkmenistan President Serdar Berdymukhamedov signed the law that brings digital asset exchanges and crypto mining companies under a licensing regime overseen by its central bank. It also defines the legal and economic status of cryptocurrencies, Reuters previously reported.
The country, which is one of the world’s most closed nations, operates a tightly controlled economy long anchored in its rich natural gas resources, which rank as the fourth-largest globally.
While crypto mining and trading are now permitted, cryptocurrencies will not be recognized as a means of payment in the Central Asian country. Internet access also remains tightly regulated and controlled by the government.
The implementation of this law signals a strategic move by Turkmenistan to diversify and digitalize its gas-dependent economy through state-sanctioned digital asset activities. A spokesperson for the government told Reuters in November that the legislation is expected to attract investment and advance the country’s digitalization efforts.
The former Soviet nation also adopted a new law last April that introduced electronic visas to simplify entry for foreigners, AP reported.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
