Turkmenistan legalizes crypto exchanges and mining on Jan 1
Turkmenistan has legalized cryptocurrency trading and mining, with new legislation signed by President Serdar Berdimuhamedow in late November taking effect on Jan. 1, a Thursday.
The policy change is intended to support economic diversification beyond natural gas exports, including the potential use of surplus energy for crypto mining, following developments seen in neighboring Kazakhstan.
The framework permits participation from non-residents, who may engage in crypto mining once registered, and allows the formation of crypto mining pools. Domestic cryptocurrency exchanges must obtain licenses, implement Know-Your-Customer and Anti-Money Laundering procedures, and meet specified cold storage standards, according to the law.
The legislation also clarifies that cryptocurrencies are not recognized as legal tender, currency, or securities in Turkmenistan.
Crypto adoption trends in Central Asia
Kazakhstan emerged as a major Bitcoin mining hub in 2021 after China’s ban prompted a significant relocation of miners to the country. Pakistan, a close ally of Turkmenistan, registered notable progress in 2025, including the creation of the Pakistan Virtual Assets Regulatory Authority, authorization for exchanges Binance and HTX to operate, the development of a Bitcoin reserve, and the appointment of former Binance CEO Changpeng “CZ” Zhao as a strategic adviser.
Adoption in Turkmenistan may proceed at a slower pace due to strict internet controls, comprehensive oversight of financial activities, and limited levels of foreign investment.
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