Turkmenistan Legalizes Cryptocurrency Mining and Trading Under New Law

A new law signed by President Berdimuhamedov allows crypto activity, but strict internet controls and payment bans remain in place.

Turkmenistan has officially legalized cryptocurrency mining and trading, in an important policy change for one of the world’s most diverse countries with just over 7 million people.

The new law was signed on Thursday by President Serdar Berdimuhamedov.

The New Law

According to an Associated Press report, the law places virtual assets under public law and introduces a licensing framework for cryptocurrency exchanges regulated by the central bank. However, digital assets cannot be seen as a form of payment, currency, or security.

Internet access in Turkmenistan also remains tightly restricted by the state, which may limit the practical use of cryptocurrencies. The move comes as the Central Asian country continues to rely heavily on its natural gas sector to support the economy. It is currently developing a pipeline project to supply gas to Afghanistan, Pakistan and India.

Turkmenistan is gradually moving towards greater use of digital systems in both public administration and economic policy. In April 2025, the authorities approved a law allowing electronic visas to make it easier for foreigners to enter the country.

After independence in 1991, Turkmenistan gained a reputation for strict border control, and many visa applications were rejected without clear reasons. In 1995, it declared itself a neutral country under then-president Saparmurat Niyazov, who reduced foreign influence and ran a highly controlled political system until his death in 2006.

At that time, the economy was still heavily dependent on gas exports, and now China is its main consumer. Since taking office in 2022, President Serdar Berdimuhamedov has shown signs of a moderate opening.

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