# Turkmenistan crypto regulation

From the Four Pillars Asia Digital Asset Policy Center. Cite as: Four Pillars Asia Digital Asset Policy Center, "Turkmenistan crypto regulation", reviewed 2026-10-05, https://policy.4pillars.io/turkmenistan. Free to reuse with attribution: cite "Four Pillars Asia Digital Asset Policy Center" and link to the page the fact comes from (each market has its own URL), and to the primary source where one is given. Terms: https://policy.4pillars.io/developers#attribution


Page: https://policy.4pillars.io/turkmenistan
Region: Central Asia. Last reviewed: 2026-10-05.

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

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.

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.

### Snapshot

- Exchange licensing: Developing. Law in force since 1 Jan 2026 requires central bank licences; no licensed exchange announced yet
- Stablecoin regime: Developing. Law covers asset-backed (secured) tokens with registered issuance but has no stablecoin-specific rules
- Tokenisation & RWA: Developing. Tokenised assets and NFTs recognised; token issues and public offerings need state registration
- Retail access: Developing. Buying crypto via licensed providers is legal from 2026, but crypto cannot be used to pay for anything
- Tax clarity: Developing. No crypto-specific tax rules; the Law on Virtual Assets is silent on taxation

### Quick answers

**Is crypto legal in Turkmenistan?**

Partly. The rules for individual investors are still being put in place. Buying crypto via licensed providers is legal from 2026, but crypto cannot be used to pay for anything. Four Pillars rates retail access in Turkmenistan as developing (reviewed 5 Oct 2026).

**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.

### Key numbers

- 1 Jan 2026 Law on Virtual Assets takes effect (as of 2026-01-01)
- 5 Types of virtual asset services a licensed provider may offer (as of 2026-01-01)
- 0 Registered virtual asset service providers at the 2023 EAG evaluation (as of 2023)
- 43 Articles in Law No. 180-VII (as of 2025-11-22)

### 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.

### Regulators

- **CBT**, Central Bank of Turkmenistan: Authorised body for virtual assets: licenses service providers, registers token issues and miners' activity. Turkmenistan's central bank: it runs monetary policy, issues the manat, and licenses and supervises banks and other credit institutions. 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. <https://www.cbt.tm/>
- **CoM**, Cabinet of Ministers of Turkmenistan: Sets state policy and the procedures for miner registration and crypto exchange operations. The national government, chaired by the President. It directs the ministries, carries out state policy and issues the resolutions that put laws into practice. 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. <https://turkmenistan.gov.tm/en>

### Licences

#### Virtual asset service provider licence

- Regulator: CBT
- Legal basis: Law on Virtual Assets No. 180-VII (2025), Articles 27 to 34
- Covers: Buying, selling and exchanging virtual assets, transfers, custody, and financial services for primary token offerings, including as a crypto exchange.
- Requirements: Legal entity registered in Turkmenistan; No owners or officers resident in offshore zones or holding offshore bank accounts; Client assets held in cold wallets under central bank rules; AML/CFT measures and client identification; Charter capital as set by Turkmen legislation
- Page: https://policy.4pillars.io/turkmenistan/licences#lic-1

#### Virtual asset exchange operator registration

- Regulator: CBT
- Legal basis: Law on Virtual Assets No. 180-VII (2025), Article 30
- Covers: Buying, selling and exchanging virtual assets in the operator's own name, entered in the central bank's register of exchange operators.
- Requirements: Central bank licence and entry in the register of exchange operators; Resident or non-resident founders permitted; No state or national words in the company name
- Page: https://policy.4pillars.io/turkmenistan/licences#lic-2

#### Miner registration

- Regulator: CBT
- Legal basis: Law on Virtual Assets No. 180-VII (2025), Articles 16 to 19
- Covers: Private mining by individual entrepreneurs and industrial mining by companies, resident or non-resident.
- Requirements: Electronic state registration under a Cabinet of Ministers procedure; Registration certificate with QR code, valid indefinitely; Electricity supplied under tariffs set by the Ministry of Energy; Hidden mining on third-party hardware is banned
- Page: https://policy.4pillars.io/turkmenistan/licences#lic-3

#### Registration of virtual asset issuance and public offering

- Regulator: CBT
- Legal basis: Law on Virtual Assets No. 180-VII (2025), Articles 20 to 25
- Covers: Issuing and publicly placing secured or unsecured virtual assets, recorded in a unified state register.
- Requirements: State registration before issue or public placement; Payment of state duty and registration fees; Issuer sets the rights attached to secured tokens within the law
- Page: https://policy.4pillars.io/turkmenistan/licences#lic-4

### Timeline

- 2023-06-08: EAG evaluation finds no crypto regime. The mutual evaluation rated Turkmenistan partially compliant on new technologies and found no registered VASPs.
- 2025-05-23: Cabinet presents a draft Law on Virtual Assets. The President ordered work with the Mejlis to finalise the bill.
- 2025-11-21: 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.
- 2025-11-22: Law No. 180-VII adopted and signed. The Mejlis also passed amendments to the AML/CFT law at the same session.
- 2025-11-27: Law published in the state press. The official Russian translation appeared in the Golden Age state newspaper.
- 2026-01-01: Law on Virtual Assets takes effect. Mining, token issuance and licensed exchanges became legal activities.
- 2026-05: EAG third follow-up report adopted. Two recommendations were upgraded, but Recommendation 15 on new technologies stayed partially compliant.
- 2026-05-20: Turkmenistan presents the law to EAG parliamentarians. Officials described a new digital financial market including a virtual asset exchange.

### Primary sources

- [Turkmenistan remains committed to integration into the international financial monitoring system](https://turkmenistan.gov.tm/en/post/106422/turkmenistan-remains-committed-integration-international-financial-monitoring-system-and-creation-secure-economic-model). State News Agency of Turkmenistan, 2026-05-20, guidance. At the EAG parliamentarians' forum Turkmenistan presented the Law on Virtual Assets as creating a digital financial market with a virtual asset exchange.
- [Turkmenistan: 3rd Enhanced Follow-up Report (with re-ratings)](https://eurasiangroup.org/files/uploads/files/other_docs/ME/3rd_enhanced_FUR_of_Turkmenistan_eng.pdf). Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG), 2026-05, guidance. Adopted by the EAG Plenary in May 2026 and published on 29 June: upgraded Recommendations 12 and 26 but left Recommendation 15 partially compliant, with enhanced follow-up until November 2027.
- [Law of Turkmenistan on Virtual Assets (official Russian translation)](https://turkmenistan.gov.tm/ru/post/101129/zakon-turkmenistana-o-virtualnyh-aktivah). State News Agency of Turkmenistan (Golden Age), 2025-11-27, in force. Translation published by the state news agency: VASPs must be Turkmen-registered and licensed, custodians must use cold wallets, and offshore owners are barred.
- [Law of Turkmenistan on Virtual Assets (state news agency, Turkmen)](https://www.turkmenistan.gov.tm/tk/habar/101132/wirtual-aktiwler-hakynda-turkmenistanyn-kanuny). State News Agency of Turkmenistan (Golden Age), 2025-11-27, in force. Turkmen publication of the law, including its advertising chapter, which requires risk warnings and bans promises of returns.
- [Law of Turkmenistan on Virtual Assets (No. 180-VII), official Turkmen text](https://court.gov.tm/media/laws/pdf/tm/180-VII_Wirtual_aktiwler_hakynda.pdf). Mejlis of Turkmenistan, via the Supreme Court of Turkmenistan, 2025-11-22, in force. The full statute in Turkmen: defines virtual assets, mining and service providers, names the central bank as the authorised body and takes effect on 1 January 2026.
- [Session of the Mejlis of Turkmenistan was held](https://tdh.gov.tm/index.php/en/post/46899/session-mejlis-turkmenistan-was-held). State News Agency of Turkmenistan (TDH), 2025-11-22, guidance. Reports the parliamentary session that considered the Law on Virtual Assets and adopted amendments to the AML/CFT law.
- [Turkmenistan is purposefully working on implementing a virtual assets system and mining technologies](https://turkmenistan.gov.tm/en/post/100927/turkmenistan-purposefully-working-implementing-virtual-assets-system-and-mining-technologies). State News Agency of Turkmenistan (Golden Age), 2025-11-22, guidance. Reports the 21 November 2025 government meeting at which the President approved the draft Roadmap for regulating virtual assets and introducing mining technologies in 2026 to 2030, covering legislation, energy and communications infrastructure, investment and pilot projects, and a proposal for a special State Commission.
- [The meeting of the Cabinet of Ministers of Turkmenistan](https://www.turkmenistan.gov.tm/en/post/95262/meeting-cabinet-ministers-turkmenistan-120). State News Agency of Turkmenistan, 2025-05-23, guidance. The Cabinet was told a Law on Virtual Assets had been drafted to attract investment, and the President ordered it finalised with the Mejlis.
- [Mutual Evaluation Report of Turkmenistan](https://eurasiangroup.org/files/uploads/files/4%20MER%20Turkmenistan_clean_eng.pdf). Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG), 2023-06-08, guidance. Adopted at the 38th EAG Plenary: found no registered VASPs, no VASP AML obligations and no legal basis for mining, and rated Recommendation 15 on new technologies partially compliant.