Turkmenistan Opens Doors to Crypto Mining—But With Tight Controls

Turkmenistan legalized crypto mining and exchanges from January 2026, allowing only licensed operators under strict government oversight. Crypto is legal to hold and trade, but banned for payments, with tight controls and penalties for violations.

Turkmenistan has legalized cryptocurrency mining and exchanges starting January 1, 2026, under a new law that introduces strict government oversight and licensing requirements. Only licensed companies and entrepreneurs can operate in the sector, with supervision from the Central Bank, Cabinet of Ministers, and Ministry of Finance and Economy. All crypto activities will be closely monitored, and unlicensed operations are strictly prohibited and subject to penalties. Cryptocurrencies are legal to hold and trade as digital property, but cannot be used for payments, salaries, or official transactions, and are not recognized as legal tender. Licensed firms must comply with anti-money laundering rules, store most assets in cold wallets, and report activities to regulators. The law aims to attract investment and diversify the economy, but maintains tight control over the sector, with authorities empowered to suspend or revoke licenses for violations. Internet and capital controls remain in place, and the sector is expected to develop slowly and selectively under ongoing restrictions.