Turkmenistan legalizes cryptocurrency mining and trading under new law – BitRss – Crypto World News

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 by law as legal tender, securities or payment methods.
• Crypto operations are limited to licensed entities, with no approval yet for foreign exchanges or broader blockchain use.
• The law marks the latest regulatory update following previous reforms, including the electronic approval of visas 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 supervision of crypto-related activities. The regulation of the exchanges will fall under the authority of the country’s central bank. However, cryptocurrencies remain excluded from use as legal tender, securities or payment instruments.

Licensing framework regulates crypto mining and exchanges

The new law allows crypto mining and exchange services to operate through a central bank licensing system. Virtual assets are legally defined as property but are excluded from monetary or payment classifications. All crypto exchanges must meet compliance standards set by financial regulators before receiving approval. Permits only apply to approved domestic activities under national regulatory rules. The law came into effect on Thursday after its official publication.

Cryptocurrency trading is only permitted within the licensed exchange framework outlined by the legislation. The rules prohibit the use of digital assets for retail purchases, payroll payments or debt settlement. The government has not outlined any tax treatment or reporting requirements for crypto holdings. Internet access remains heavily regulated, limiting direct access to foreign platforms. Authorities have not confirmed approval for international exchanges operating locally.

Market controls persist despite the legalization of cryptocurrencies

The legislation does not introduce crypto payment infrastructure or integration with state financial systems. The use of blockchain outside of mining and exchange activities was not addressed in the legal text. The government has also not announced plans for a digital national currency. Supervision remains centralized, with all crypto activities subject to regulatory oversight. The framework limits participation to licensed entities that operate within defined legal boundaries.

Turkmenistan adopted electronic visa rules in April 2025, following recent administrative changes. The crypto law follows that reform, but strictly applies to digital asset activities. 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 latest update to regulations regarding digital assets in the country.

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