Turkmenistan Adopts Bitcoin and Digital Asset Legislation Effective January 2025

Turkmenistan has enacted new legislation establishing a regulatory framework for Bitcoin and digital assets, with the law set to take effect on January 1, 2025, according to state media reports.

President Serdar Berdymukhamedov signed the legislation, which introduces a licensing system for cryptocurrency exchanges and mining operators, the state-run Neutral Turkmenistan newspaper reported Friday.

The law establishes rules governing the creation, storage, placement, use, and circulation of virtual assets within the Central Asian nation, while defining their legal and economic status. A government spokesperson indicated the legislation aims to "help attract investment and stimulate digitalization."

The move represents a significant policy shift for Turkmenistan, which possesses one of the world's largest natural gas reserves and has been seeking to diversify its economy beyond energy exports.

The development aligns with broader regional trends in Central Asia, where neighboring countries are advancing their digital asset sectors. Kyrgyzstan recently launched a national stablecoin in partnership with cryptocurrency exchange Binance.

Details regarding specific licensing requirements, taxation policies, and enforcement mechanisms have not yet been disclosed by Turkmen authorities.