Turkmenistan formally enforce the Regulation on Digital Belongings legalizing cryptocurrency mining and crypto exchanges because it seems to be to spice up financial improvement and entice overseas funding.
The brand new guidelines, which President Serdar Berdimuhamedov signed into legislation on Nov. 28, present a framework for the use, creation and trade of digital property within the nation.
A 2025 research on Group of Islamic Cooperation (OIC) member states, which embody Turkmenistan, concluded that permitting crypto is nice for the financial system.
“Cryptocurrency legalization has considerably boosted financial progress in growing nations by enhancing monetary inclusion and offering the authorized readability important for attracting digital overseas direct funding,” mentioned Muhammad Rheza Ramadhan, an economist and researcher at Indonesia’s Ministry of Finance.
The legislation defines digital property as property, not authorized tender or securities, and divides them into two classes: secured (backed by an underlying asset) and unsecured (similar to bitcoin). Digital property can’t be used as fee for items or providers and should be handled strictly as property or funding devices.
Cryptocurrency mining by each corporations and people turns into permissible, offered the miners register with the Central Financial institution of Turkmenistan. The legislation imposes technical requirements on mining operations and explicitly prohibits covert mining strategies like cryptojacking.
The legislation additionally authorizes crypto exchanges and custodial providers to function, once more offered a license is issued by the central financial institution. Each home and overseas entities can personal these providers, besides these primarily based in or related to offshore jurisdictions. Exchanges should implement know-your-customer and anti money-laundering guidelines, and nameless transactions or wallets usually are not allowed.
