Turkmenistan Legalizes Crypto Mining and Exchanges, Introduces Licensing
Turkmenistan's parliament has enacted a law to legalize and regulate digital assets, introducing licensing requirements for cryptocurrency exchanges and mining operators, state media reported on Nov. 28, 2025. The legislation marks a notable policy shift for a country that previously had little formal crypto framework; regulators say the goal is to formalize activity, improve AML/KYC controls and capture tax and licensing revenue from the sector. The decision could attract regional and international operators, but implementation details remain sparse. Observers will watch how licensing is administered, whether state-affiliated firms are favoured, and how energy policy is adjusted: Turkmenistan's abundant gas could support mining but authorities must balance domestic supply and grid stability. The law positions Turkmenistan alongside other Central Asian states moving to regulate crypto, with investors focused on the licence timeline, fees and operational rules.