Turkmenistan Opens Up to Crypto
Turkmenistan has entered the new year with a major shift toward cryptocurrencies. As of January 1, 2026, new legislation officially legalizes cryptocurrency exchanges and crypto mining. The law was signed by President Serdar Berdimuhamedow in late November, marking a significant change for one of the world’s most closed economies.
Cryptocurrencies as a path to economic diversification
The country has long relied on natural gas exports. The new framework opens the door to partial diversification, particularly through energy-intensive crypto mining, following a path similar to Kazakhstan’s rise as a mining hub after China’s 2021 ban.
Foreign miners and mining pools are allowed
The law allows both domestic and foreign entities to mine cryptocurrencies, provided they are properly registered. Mining pools are also explicitly permitted, signaling an effort to attract technology and foreign expertise.
Strict rules for exchanges crypto is not legal tender
Cryptocurrency exchanges must obtain licenses, implement KYC and AML controls, and secure assets using cold storage. Cryptocurrencies are not recognized as legal tender, reinforcing their status as investment and technological assets rather than money.
Central Asia embraces crypto cautiously
While adoption may be slowed by internet restrictions and capital controls, Turkmenistan’s move aligns with a broader regional trend toward regulated crypto markets.
Sources:
https://finance.yahoo.com/news/turkmenistan-one-world-most-closed-163830630.html
https://cointelegraph.com/news/turkmenistan-crypto-exchanges-trading-now-legal
