Turkmenistan Legalizes Crypto Mining and Exchanges From 2026

Turkmenistan, a country with a population of about 7.6 million people and strict control over the internet, has recently made a significant decision regarding cryptocurrency. As of January 2026, cryptocurrency mining and exchanges have been officially legalized in the country.

The main objective behind this decision is to attract new investments and reduce the nation’s reliance on gas exports. However, the government has imposed stringent regulations on who can engage in cryptocurrency activities and how these digital assets can be utilized.

In a landmark move, President Serdar Berdimuhamedov signed the Law on Virtual Assets on November 28, 2025, which came into effect on January 1, 2026. According to this law, only registered companies and approved entrepreneurs are permitted to mine cryptocurrencies or operate crypto exchanges. The market is not open to everyone, as businesses must first obtain a license and adhere to strict government monitoring.

Various state bodies, including the Central Bank, the Cabinet of Ministers, and the Ministry of Finance and Economy, will oversee the crypto sector. Regular checks will be conducted to ensure that all companies comply with the regulations set by the government.

Under the new law, only approved operators are allowed to engage in cryptocurrency mining. Any unauthorized or hidden mining activities are strictly prohibited and may result in penalties. Similarly, crypto exchanges must operate within the confines of the regulations, offering trading services while paying taxes and preventing the use of digital assets for illegal purposes.

Cryptocurrencies will not be considered legal tender in Turkmenistan, meaning they cannot be used for everyday transactions, salaries, or official payments. Instead, digital assets are classified as digital property that can be legally owned, held, and traded under regulated conditions.

Licensed crypto firms are required to adhere to stringent anti-money laundering regulations, store the majority of assets in cold wallets, and report their activities to regulators. Any unauthorized mining or exchange activities are strictly forbidden, with authorities having the power to suspend or revoke licenses in case of non-compliance.

While neighboring countries like Uzbekistan and Kazakhstan have already established clear crypto regulations, Turkmenistan is taking a unique approach by opting for a tightly controlled and regulated system. Although the use of cryptocurrencies is currently limited in the country, the new law paves the way for gradual adoption under strict government oversight.

In conclusion, Turkmenistan’s decision to legalize cryptocurrency mining and exchanges marks a significant step towards modernization and attracting investments. By implementing strict regulations and monitoring mechanisms, the government aims to ensure the responsible and controlled use of digital assets in the country.