Catenaa, Wednesday, January 07, 2026- Turkmenistan officially legalized domestic cryptocurrency mining and trading Thursday as a new law brought digital assets under a central bank licensing regime.

President Serdar Berdymukhamedov signed the legislation in late November, defining the legal and economic status of cryptocurrencies while regulating exchanges and mining companies.

The law does not recognize crypto as a means of payment, and internet access remains tightly controlled in the Central Asian nation.

Turkmenistan, one of the world’s most closed economies, relies heavily on natural gas, ranking fourth globally in reserves.

Officials said the new framework aims to diversify and digitalize the gas dependent economy through state sanctioned crypto activities, attracting investment and fostering modernization.

The central bank will oversee licensing and compliance for all crypto operations, establishing official channels for mining and trading.

Analysts said the move could help bring transparency and legitimacy to a previously opaque sector, though adoption may be limited by regulatory and infrastructure constraints.

The law follows Turkmenistan’s broader push to modernize, including an electronic visa program launched last April to simplify entry for foreigners.

Industry watchers note that while mining and trading are legal, broader participation may be constrained by the country’s restrictive internet policies and controlled financial environment.

The legislation signals a calculated step toward integrating digital assets into Turkmenistan’s tightly managed economy without altering the official currency system.