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Central Asia

Turkmenistan

One of Asia's most closed economies legalised mining and crypto exchanges on 1 January 2026, with the central bank as gatekeeper.

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1 Jan 2026Law on Virtual Assets takes effect
5Types of virtual asset services a licensed provider may offer
0Registered virtual asset service providers at the 2023 EAG evaluation

Until 2026 Turkmenistan had no crypto law at all.

When the Eurasian Group on Combating Money Laundering (EAG) evaluated the country in 2023, it found no registered virtual asset service providers, noted that mining was not a recognised economic activity and so was illegal, and rated Turkmenistan only partially compliant with the FATF standard on new technologies.

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The shift came from the top.

At a Cabinet of Ministers meeting on 23 May 2025 officials presented a draft Law on Virtual Assets meant to attract investment and fintech, and President Serdar Berdimuhamedov ordered it finalised with parliament.

At a Cabinet meeting on 21 November 2025 he approved a draft Roadmap for regulating virtual assets and introducing mining technologies in 2026 to 2030, together with a proposal for a special State Commission.

The next day the Mejlis took up the law, the President signed Law No. 180-VII the same day, and it took effect on 1 January 2026.

Parliament also amended the AML/CFT law in the same session.

The law treats virtual assets as property, never as money, currency or securities, and splits them into secured tokens backed by other assets and unsecured assets such as bitcoin.

The Central Bank of Turkmenistan is the authorised body: it licenses service providers, including exchange operators and crypto exchanges, registers token issues and keeps the register of exchange operators, while the Ministry of Finance and Economy checks AML compliance and the Ministry of Energy sets power tariffs for miners.

Mining is allowed for resident and non-resident companies and individual entrepreneurs after electronic registration, custodians must keep client assets in cold wallets, and crypto advertising must carry risk warnings.

For builders this is a door that has only just opened.

Licensing depends on Cabinet procedures, capital rules and electricity tariffs for miners that were still to be set, and as of early October 2026 no licensed exchange or registered miner had been publicly announced.

The EAG's third follow-up report in May 2026 left Turkmenistan's rating on new technologies at partially compliant.

Anyone looking at the market should expect tight state control, Turkmen-registered entities only, and no use of crypto for payments.

Who regulates

  • CBTCentral Bank of Turkmenistan

    In charge of

    Turkmenistan's central bank: it runs monetary policy, issues the manat, and licenses and supervises banks and other credit institutions.

    On crypto

    The authorised body under the Law on Virtual Assets (No. 180-VII), in force since 1 January 2026. It licenses service providers including crypto exchanges, keeps the register of exchange operators and registers token issues and miners. No licence had been announced by early October 2026.

    CBT website
  • CoMCabinet of Ministers of Turkmenistan

    In charge of

    The national government, chaired by the President. It directs the ministries, carries out state policy and issues the resolutions that put laws into practice.

    On crypto

    Presented the draft Law on Virtual Assets on 23 May 2025. Under Law No. 180-VII it sets the procedures for registering miners and for creating and running crypto exchanges, which had not been published as of early October 2026.

    CoM website

What to watch

  • Cabinet of Ministers procedures for miner registration and for creating and running crypto exchanges.
  • Central Bank of Turkmenistan licensing rules, capital requirements and the first licences under Law No. 180-VII.
  • Electricity tariffs and supply rules for miners and exchanges set under the Ministry of Energy's powers.
  • Whether EAG re-rates Recommendation 15 on virtual assets before Turkmenistan's enhanced follow-up ends in November 2027.

Quick answers

Who regulates crypto in Turkmenistan?

Two authorities shape crypto rules in Turkmenistan. CBT (Central Bank of Turkmenistan): authorised body for virtual assets: licenses service providers, registers token issues and miners' activity. CoM (Cabinet of Ministers of Turkmenistan): sets state policy and the procedures for miner registration and crypto exchange operations.

Do crypto exchanges need a licence in Turkmenistan?

Not fully yet: the regime is being built. Law in force since 1 Jan 2026 requires central bank licences; no licensed exchange announced yet. The main licences are Virtual asset service provider licence from CBT; Virtual asset exchange operator registration from CBT; and Miner registration from CBT. Four Pillars rates exchange licensing in Turkmenistan as developing (reviewed 5 Oct 2026).

Are stablecoins regulated in Turkmenistan?

Not fully yet: the regime is being built. Law covers asset-backed (secured) tokens with registered issuance but has no stablecoin-specific rules. Four Pillars rates its stablecoin regime in Turkmenistan as developing (reviewed 5 Oct 2026).

How is crypto taxed in Turkmenistan?

No crypto-specific tax rules; the Law on Virtual Assets is silent on taxation. Four Pillars rates tax clarity in Turkmenistan as developing (reviewed 5 Oct 2026).

Can real-world assets be tokenised in Turkmenistan?

Not fully yet: the regime is being built. Tokenised assets and NFTs recognised; token issues and public offerings need state registration. Four Pillars rates tokenisation and real-world assets in Turkmenistan as developing (reviewed 5 Oct 2026).

What changed most recently in Turkmenistan's crypto rules?

20 May 2026: Turkmenistan presents the law to EAG parliamentarians. Officials described a new digital financial market including a virtual asset exchange. May 2026: EAG third follow-up report adopted. Two recommendations were upgraded, but Recommendation 15 on new technologies stayed partially compliant.

What should companies watch next in Turkmenistan?

Cabinet of Ministers procedures for miner registration and for creating and running crypto exchanges. Central Bank of Turkmenistan licensing rules, capital requirements and the first licences under Law No. 180-VII. Electricity tariffs and supply rules for miners and exchanges set under the Ministry of Energy's powers.

Timeline

  1. Turkmenistan presents the law to EAG parliamentarians

    Officials described a new digital financial market including a virtual asset exchange.

  2. EAG third follow-up report adopted

    Two recommendations were upgraded, but Recommendation 15 on new technologies stayed partially compliant.

  3. Law on Virtual Assets takes effect

    Mining, token issuance and licensed exchanges became legal activities.

  4. Law published in the state press

    The official Russian translation appeared in the Golden Age state newspaper.

  5. Law No. 180-VII adopted and signed

    The Mejlis also passed amendments to the AML/CFT law at the same session.

  6. Draft virtual assets roadmap for 2026 to 2030 approved

    At a Cabinet meeting the President approved the draft roadmap, covering legislation, energy and communications infrastructure and pilot projects, and a proposal for a special State Commission.

  7. Cabinet presents a draft Law on Virtual Assets

    The President ordered work with the Mejlis to finalise the bill.

  8. EAG evaluation finds no crypto regime

    The mutual evaluation rated Turkmenistan partially compliant on new technologies and found no registered VASPs.

Cite this page: Four Pillars Asia Digital Asset Policy Center, “Turkmenistan crypto regulation”, reviewed 5 Oct 2026, https://policy.4pillars.io/turkmenistan. Free to reuse with attribution; also as markdown and JSON.

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