Turkmenistan has unveiled a sweeping new law that legalizes and regulates digital assets, marking a significant shift in the country’s economic policy under President Serdar Berdymukhamedov. The legislation, effective January 1, 2026, establishes licensing requirements for cryptocurrency exchanges and mining companies. This move aims to attract investment and accelerate digitalization as Turkmenistan seeks to diversify its economy beyond reliance on natural gas revenues. 💰
The law provides a clear legal foundation for virtual assets in the country, addressing their creation, storage, circulation, and usage. It also formally recognizes the status of digital assets within the nation’s legal framework, setting rules to foster both domestic and international participation in the sector. 🌐
President Berdymukhamedov has officially signed the legislation, positioning Turkmenistan among a growing number of Central Asian nations exploring the potential of the burgeoning digital assets industry. 🇰🇿
The region has emerged as an unexpected crypto hub. Kyrgyzstan, another former Soviet republic, has taken a leading position in the field, even launching a national stablecoin in partnership with Binance, a global exchange.
Analysts suggest this new law could be Turkmenistan’s strategy to remain competitive within a rapidly evolving financial landscape. 📈
The licensing provisions will cover platforms that facilitate crypto exchanges and trading, alongside companies involved in mining activities. However, specifics about tax treatment, compliance protocols, and oversight mechanisms are yet to be publicly disclosed.
Despite these details being undisclosed, officials emphasize the new rules are intended to create a transparent and regulated environment conducive to innovation.