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Turkmenistan has officially announced the legalization of digital currency mining and trading as part of a significant shift in its economic policies, a step considered one of the most significant legislative changes in one of the most closed countries in the world, with an estimated population of over 7 million.
President Gurbanguly Berdimuhamedov signed a new law on Thursday that will bring virtual assets into the civil law framework and introduce a licensing system that allows the establishment of cryptocurrency trading platforms under central bank supervision.
In contrast, the legislation emphasizes that digital assets will not be considered means of payment, currencies or securities.
Despite liberalizing legislation, the country’s strict internet restrictions remain a factor that may limit the practical use of digital currencies, especially in terms of access to global platforms and services.
The move comes as Turkmenistan, which relies heavily on the gas industry to support its economy, continues to develop pipeline projects to export gas to Afghanistan, Pakistan and India.
These developments are part of a progressive trend towards the digitization of economic management and policy.
In April 2025, authorities passed a law allowing the issuance of electronic visas to facilitate the entry of foreigners in an attempt to relax some restrictions related to travel and government procedures.
Historically, Turkmenistan earned an international reputation for its strict borders, rejecting many visa applications without explanation and declaring “neutrality” in 1995 under the rule of late President Safarmurat Niyazov, who led a tightly controlled political regime until his death in 2006.
During this period, the economy remained largely dependent on natural gas exports, with China now its largest buyer.
In a regional context, interest in digital asset markets continues to grow among Central Asian countries.
Kyrgyzstan is also working to increase its ambitions in this area after signing a memorandum of understanding with Binance platform founder Changpeng Zhao (CZ) to support the development of the blockchain and digital currency industry through regulatory consulting, infrastructure construction and specialized training programs.
Through this partnership, Kyrgyzstan seeks to improve the security of digital assets and develop local skills in areas such as cybersecurity and virtual asset management to solidify its position as a regional hub for blockchain technology innovation in Central Asia.
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