Turkmenistan Legalizes Crypto… But Only If You Pay in Gas! šŸ’°šŸ”„

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A Few Notable Points (And a Dash of Sarcasm)

  • Turkmenistan has legalized cryptocurrency mining and trading through a new state-mandated licensing system. Ah, the old “legalize but don’t really” trick.
  • While legal for exchange, digital assets are strictly prohibited from being used as a currency or means of payment. Because nothing says “progress” like a government that canā€™t trust its own citizens.
  • The legislation marks a major policy shift for a highly isolated economy dependent on natural gas exports. A nation so isolated, even its internet is on a strict diet.

Turkmenistanā€™s President Serdar Berdimuhamedov signed a law on Thursday legalizing cryptocurrency mining and trading. The move aims to modernize the nationā€™s financial system by bringing virtual assets under civil law. Because nothing says “modern” like a government that still uses a typewriter for official documents.

According to a report, the legislation introduces a licensing framework managed by the central bank. The decision marks a major shift for the gas-dependent country as it tries to integrate digital technology into its isolated and state-run economy. Because nothing says “innovation” like a country thatā€™s never heard of a smartphone.

New Regulatory Framework Rules: A Masterclass in Bureaucratic Jargon

The law establishes a formal setting for digital asset operations. Cryptocurrency exchanges will have to get specific licenses to operate legally in the country. However, the government has set strict limits on how these assets can be used. Because why let the people have fun when you can complicate things?

Digital currencies will not be recognized as legal tender, nor will they be classified as securities or accepted as valid payment for goods and services. While mining and trading are now allowed, the nationā€™s internet infrastructure is still under strong control and monitoring by the state. Because nothing says “freedom” like a government thatā€™s always watching.

In November 2025, Turkmenistan passed the law regulating crypto mining and exchanges in November to ā€œhelp attract investment and stimulate digitalization.ā€ The legislation lays out rules for the creation, storage, placement, use, and circulation of virtual assets, while also defining their legal and economic status. Because nothing says “transparency” like a law thatā€™s 50 pages long and written in a dead language.

Turkmenistanā€™s Economic Background: A Love Letter to Isolation

Since gaining independence from the Soviet Union in 1991, Turkmenistan has been seen as one of the worldā€™s most closed societies. It has been known for an autocratic government and a heavily regulated economy. A nation so closed, even its doors have locks.

The countryā€™s economy relies heavily on natural gas reserves, with China being its main export partner. Recently, authorities have shown minor signs of opening up, such as introducing an electronic visa system in April last year aimed at easing the entry process for foreign visitors. Because nothing says “welcome” like a visa system thatā€™s still slower than a snail on a treadmill.

Future Strategy and Energy Monetization: A Gamble on Gas and Glitter

The future implications of this legalization suggest a twofold strategy by the Ashgabat administration. By regulating crypto mining, the government may hope to profit from its domestic energy surplus, especially as it continues to develop major infrastructure projects like the pipeline planned to reach Afghanistan, Pakistan, and India. Because nothing says “global player” like a country thatā€™s never heard of the internet.

However, not recognizing cryptocurrency as a means of exchange indicates that the government wants to keep a tight grip on the national currency and financial stability. Observers will be watching to see if the licensing scheme attracts foreign investment or if the countryā€™s restrictive internet policies and history of unclear governance will discourage it. Because nothing says “trust” like a government thatā€™s never been accused of anything.

Ultimately, the legalization of virtual assets is a rare instance of economic liberalization for Turkmenistan. While the move connects the country with global digital trends, strict regulatory oversight and limitations on using crypto as money suggest that the government values state control over complete market freedom. Because nothing says “liberty” like a government thatā€™s still running the show.

Whether this shift will lead to more integration into the global financial system or remain a local effort to gain value from energy reserves is still uncertain. But hey, at least theyā€™re trying to keep up with the times-just donā€™t expect any actual progress.

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2026-01-01 22:55