Turkmenistan legalizes Bitcoin mining and cryptocurrency exchange activities

2026-01-05 01:38:35

Source: PortaldoBitcoin Original Title: Turkmenistan legalizes cryptocurrencies, Bitcoin mining, and exchange activities Original Link: Turkmenistan legalizes Bitcoin mining and cryptocurrency exchange activities following the recent enactment of the “Virtual Assets Law.” The bill was signed into law by President Serdar Berdimuhamedow on November 28, aiming to promote economic development.

The new legislation stipulates that virtual assets cannot be used as a means of payment and must be treated as property and investment assets. Additionally, the law distinguishes between secured assets (backed by an underlying asset) and unsecured assets (such as Bitcoin).

Mining will be open to individuals or companies, provided they register with the Central Bank of Turkmenistan. The law also defines technical standards for mining operations and prohibits illegal mining methods.

Cryptocurrency exchanges must obtain authorization from the Central Bank to operate. Foreign companies can participate in this business, but their headquarters cannot be located in offshore jurisdictions. Exchanges are required to implement anti-money laundering measures, enforce Know Your Customer (KYC) policies, and prohibit the use of anonymous wallets.

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