Crypto Exchanges and Mining Now Legal in Turkmenistan

Crypto mining and trading is now legal in Turkmenistan after a new law signed by President Serdar Berdimuhamedow in late November took effect on Thursday. 

Implementation of the new laws could see the Central Asian country’s economy expand beyond its heavy reliance on natural gas exports by tapping surplus energy for crypto mining, following the lead of neighboring country Kazakhstan.

Turkmenistan is considered to be one of the more closed-off countries in the world, but has taken several steps to open up its economy in recent years, including to the tourism and energy sectors.

That now extends to the entire crypto industry, with non-Turkmenistan residents also permitted to mine crypto in the country once registered, according to the law. 

are also permitted.

Turkmenistan-based crypto exchanges will need to secure licenses, set up Know-Your-Client and Anti-Money Laundering checks and satisfy certain cold storage requirements, the law states.

The new laws also made it clear that crypto still isn’t recognized as currency or as a security in Turkmenistan.

Turkmenistan’s neighbor, Kazakhstan, became a in 2021 after China’s ban pushed a significant number of crypto miners to relocate there, while Pakistan, one of Turkmenistan’s closest allies, made some of the in crypto regulation in 2025.

Related:

Among Pakistan’s biggest accomplishments include establishing the Pakistan Virtual Assets Regulatory Authority, Binance and HTX to operate in the country, building a Bitcoin reserve, and appointing former Binance CEO Changpeng ‘CZ’ Zhao as a strategic adviser.

However, the speed of adoption may be slower in Turkmenistan, given the government’s tight controls on internet access, strict oversight of financial activities and the limited it receives.

Magazine: