Turkmenistan’s crypto mining law takes effect after November approval

Turkmenistan’s long-anticipated crypto mining law has officially taken effect, marking a major shift in the tightly controlled nation’s economic policy after gaining parliamentary approval in November and receiving presidential assent in late 2025. The new Law on Virtual Assets came into force on January 1, 2026, establishing a legal framework for cryptocurrency mining, trading, and exchanges under strict oversight – but with significant restrictions that reflect Ashgabat’s cautious approach to digital assets. Shortly after this news was made public, reports from reliable sources confirmed that the new regulation had received the approval of Serdar Berdimuhamedow, the President of Turkmenistan. With this approval in place, virtual assets are categorized under civil law. It also creates a licensing system that the central bank effectively oversees. Turkmenistan amends its policy for crypto-related activities Turkmenistan’s recent move paves the way for a small but considerable chance for crypto-related activities in the country. Earlier, Turkmenistan was recognized for its isolation, tough capital controls, and stringent government regulations; hence, making a significant change with its decision to support crypto mining. Nonetheless, sources noted that the country’s decision raised controversy among individuals who wondered whether mining operations could be effectively carried out in a nation where the government closely tracks access to the internet. Meanwhile, it is worth noting that Turkmenistan has always been one of the most isolated nations globally. This situation resulted from the government’s decision to implement stringent restrictions on sectors such as media, travel, and foreign investment. In an attempt to address its isolation status, the government began providing its citizens with electronic visas last year to simplify the process for foreigners’ visits. Now that the Central Asian country has adopted a decision to support crypto mining, analysts have commented that this move appears to be another carefully managed way to attract investment and technical skills to Turkmenistan without loosening political control. This situation prompted reports to contact officials in the country for their comments. Responding, they outlined this legislation as a move to modernize the economy, rather than as a means to establish a financial revolution. Notably, the licensing regulations, central bank oversight, and payment limitations enable the government to maintain full control over this sector. Regarding the new regulation , reports highlighted that this law appears to follow a trend of cautious change led by the government rather than true liberalization. Another discovery was that Turkmenistan’s economy heavily depends on the exportation of natural gas, with China positioning itself as a key client. Therefore, crypto mining offers a possible strategy to generate funds from extra energy resources. It also helps the nation diversify its income sources beyond hydrocarbons. While Turkmenistan decides to support crypto mining, reports from reliable sources have disclosed that Russia has begun making its regulations stricter, despite securing a ranking as one of the significant global centers for mining. Russia implements several changes to its mining activities A recent report noted that Moscow has decided to make changes to the country’s mining activities. Following this change, it was confirmed that the nation moved mining operations into formal, taxed systems. It also opted to restrict operations in areas encountering power shortages. According to this finding, sources noted that although Turkmenistan does not have an official collaboration with Russia and maintains a policy of permanent neutrality, the new regulation reflects a broader trend in Eurasia aimed at enhancing mining operations outside the US. However, even with this approach in place, the United States still positions itself as a leading option for significant industrial miners. In the meantime, analysts pointed out the existence of clear restrictions. According to their research, cryptocurrencies are not suitable for payments, exchanges will be heavily regulated, and the implementation of internet controls will be considered. As a result of these limitations, they predicted that Turkmenistan’s mining industry would expand at a slow and selective pace. Sharpen your strategy with mentorship + daily ideas - 30 days free access to our trading program