turkmenistan

According to Cointelegraph, the cryptocurrency regulation bill signed by the President of Turkmenistan at the end of November has come into effect, marking the official legalization of cryptocurrency mining and trading in Turkmenistan.Under this law, non-residents of Turkmenistan can also engage in cryptocurrency mining in the country after registration. Cryptocurrency mining pools are also allowed to be established. The law stipulates that cryptocurrency exchanges established in Turkmenistan must obtain a license, establish KYC and anti-money laundering (AML) mechanisms, and meet certain cold storage requirements. Previously, it was reported that Turkmenistan passed the cryptocurrency regulation bill, which will take effect in 2026.

The President of Turkmenistan, Serdar Berdimuhamedov, signed a decree that officially legalizes cryptocurrency mining and trading. This legislation incorporates virtual assets into civil law and establishes a licensing system for cryptocurrency exchanges regulated by the country's central bank.Nevertheless, digital currencies are still not regarded as a means of payment, legal tender, or securities in the country. Currently, the internet in Turkmenistan remains under strict government control. As an economy that heavily relies on natural gas exports, this move is seen as a significant shift in its economic policy.

According to Reuters, Turkmenistan has passed a bill to legalize and regulate digital assets, including a licensing system for cryptocurrency exchanges and crypto mining companies.Turkmenistan's President Serdar Berdymukhamedov has signed the bill, which will officially take effect on January 1. According to a government spokesperson, the bill will help attract investment and promote digitalization.The bill covers the regulatory framework for the creation, storage, issuance, use, and circulation of virtual assets within Turkmenistan, and clarifies their legal and economic status. Turkmenistan is a landlocked country located in the southwestern part of Central Asia.