Turkmenistan has enacted the Law on Virtual Assets, officially legitimizing cryptocurrency mining and exchange operations in a bid to stimulate economic growth and attract international investment. The legislation, signed into law by President Serdar Berdimuhamedov on November 28, establishes a regulatory framework for the creation, use, and exchange of virtual assets within the country. According to a 2025 study focusing on Organization of Islamic Cooperation member states, including Turkmenistan, embracing cryptocurrency can have a positive impact on the economy.
Economist and researcher Muhammad Rheza Ramadhan notes that "cryptocurrency legalization has significantly boosted economic growth in developing nations by enhancing financial inclusion and providing the legal clarity essential for attracting digital foreign direct investment." The law categorizes virtual assets as property, dividing them into secured and unsecured types, and prohibits their use as a form of payment. It permits both corporate and individual cryptocurrency mining, provided that miners register with the Central Bank of Turkmenistan and adhere to specified technical standards, while also banning covert mining practices.
Furthermore, the law sanctions the operation of crypto exchanges and custodial services, subject to central bank licensing, and mandates the enforcement of know-your-customer and anti-money laundering regulations, disallowing anonymous transactions.