Turkmenistan Legalizes Cryptocurrency Mining and Trading Under New Law

Turkmenistan has officially legalized cryptocurrency mining and trading, in a significant policy transformation for one of the world’s most isolated countries with a little over 7 million people.

The new law was signed on Thursday by President Serdar Berdimuhamedov.

New Legislation

According to the report by Associated Press, the law places virtual assets under civil law and introduces a licensing framework for cryptocurrency exchanges overseen by the central bank. However, digital assets will not be recognized as a means of payment, currency, or security.

Internet access in Turkmenistan also remains tightly restricted by the state, which may limit the practical use of cryptocurrencies. The move comes as the Central Asian nation continues to rely heavily on its natural gas sector to support the economy. It is currently developing a pipeline project to supply gas to Afghanistan, Pakistan, and India.

Turkmenistan is gradually moving toward greater use of digital systems in both public administration and economic policy. In April 2025, authorities approved a law allowing electronic visas to make it easier for foreigners to enter the country.

After becoming independent in 1991, Turkmenistan gained a reputation for strict border controls, and many visa requests were denied without clear reasons. In 1995, it declared itself a neutral state under then-president Saparmurat Niyazov, who limited foreign influence and ran a highly controlled political system until his death in 2006.

During that period, the economy remained heavily dependent on gas exports, and now China happens to be its primary buyer. Since taking office in 2022, President Serdar Berdimuhamedov has shown signs of limited opening.

Kyrgyzstan’s MoU With Binance Founder CZ

Another former Soviet Central Asian republic, Kyrgyzstan, is also working towards strengthening its digital asset ambitions in April after Binance founder Changpeng “CZ” Zhao signed a memorandum of understanding (MoU) with the country’s National Investment Agency (NIA).

Announced on April 3 by President Sadyr Zhaparov, the agreement aims to support the development of Kyrgyzstan’s cryptocurrency and blockchain ecosystem. The partnership will see cooperation on regulatory consulting, infrastructure development, and education programs.

According to officials, the focus will be on improving technological infrastructure, enhancing digital asset security, and training local specialists in areas such as blockchain, cybersecurity, and virtual asset management. The NIA said the collaboration is intended to help position Kyrgyzstan as a regional hub for blockchain innovation in Central Asia.

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