Turkmenistan officially put into effect the Law on Virtual Assets legalizing cryptocurrency mining and crypto exchanges as it looks to boost economic development and attract foreign investment.
The new rules, which President Serdar Berdimuhamedov signed into law on Nov. 28, provide a framework for the use, creation and exchange of virtual assets in the country.
A 2025 study on Organization of Islamic Cooperation (OIC) member states, which include Turkmenistan, concluded that allowing crypto is good for the economy.
The law defines virtual assets as property, not legal tender or securities, and divides them into two categories: secured (backed by an underlying asset) and unsecured (such as bitcoin). Virtual assets cannot be used as payment for goods or services and must be treated strictly as property or investment instruments.
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