Turkmenistan Greenlights Crypto Mining Under Central Bank Oversight

Turkmenistan has taken a rare step toward economic modernization by formally legalizing cryptocurrency mining and trading under a newly enacted digital assets law that came into force this week.

Signed in late November by President Serdar Berdymukhamedov, the legislation establishes a state-controlled framework that places crypto exchanges and mining operations under a mandatory licensing system supervised by the country’s central bank. The law also outlines the legal and economic standing of digital assets, bringing long-uncertain crypto activities into a regulated space.

Despite the policy shift, Turkmenistan is maintaining firm boundaries. Cryptocurrencies will not be allowed as a legal means of payment, and access to the internet—critical for crypto operations—remains tightly restricted by the state. The move appears designed to capture investment and technological expertise without loosening broader financial or information controls.

Turkmenistan’s economy has historically depended on its vast natural gas reserves, the fourth-largest in the world. By permitting state-sanctioned crypto mining and trading, officials signal an effort to diversify beyond hydrocarbons and promote selective digitalization within the confines of a centralized system. Government representatives have previously said the new framework could help attract foreign capital and support longer-term modernization goals.

The crypto law follows other cautious reforms, including the introduction of electronic visas earlier this year aimed at simplifying entry for foreign visitors. Together, these measures suggest Turkmenistan is experimenting with limited openings to the global economy—on its own tightly managed terms.