Turkmenistan Legalizes Crypto Mining and Exchanges (1 Jan 2026) but Keeps Crypto Off-Limits as Legal Tender

On January 1, 2025, a new law in Turkmenistan went into effect that officially legalized the mining and exchange of cryptocurrencies as digital assets. The move established a regulatory framework for virtual assets within the country, aiming to support the development of a digital economy. Key aspects of the regulation include: • Legalization of Activities: The legislation permits activities such as the issuance, mining, purchase, sale, and exchange of virtual assets. • Not Legal Tender: Crucially, the law explicitly states that cryptocurrencies cannot be used as legal tender for payments within Turkmenistan. The Turkmen manat remains the sole legal currency. • Regulatory Framework: The legislation defines the rights and obligations of participants in the virtual asset market, outlines licensing requirements for service providers, and details measures to prevent money laundering and terrorist financing. • Government Oversight: The Ministry of Finance and Economy is designated as the authorized body responsible for overseeing the virtual asset market in the country. This regulatory step makes Turkmenistan one of the first Central Asian nations to establish a formal legal basis for cryptocurrency activities.