By Micah Jonah
January 7, 2026
Turkmenistan has officially legalized cryptocurrency mining and exchanges in a major shift for the country’s tightly controlled, gas-dependent economy.
President Serdar Berdimuhamedov signed legislation, regulating virtual assets under civil law, establishing a licensing scheme for cryptocurrency exchanges overseen by the country’s central bank.
Digital currencies, however, will not be recognized as a means of payment, currency, or security.
Turkmenistan, a former Soviet country in Central Asia, relies heavily on exports of its vast natural gas reserves, with China as its main importer. The country is also developing a pipeline to supply gas to Afghanistan, Pakistan, and India.
Since succeeding his father as president in 2022, Berdimuhamedov has signalled some opening in the country. Recent measures include easing restrictions on social media, introducing electronic visas, pledging to open new air transport links.
The government has described these reforms as part of efforts to transform Turkmenistan into a more modern, democratic, and rule-of-law state, while still maintaining tight control over the internet and media.
Turkmenistan has a population of about seven million, holds the world’s fourth-largest natural gas reserves. The country declared itself officially neutral in 1995, has historically kept strict controls on politics, the economy, and entry for foreigners.
