2026-01-02 07:21:23

Turkmenistan's president recently signed a decree officially recognizing cryptocurrency mining and trading, a move that has attracted attention in Central Asia.

Under the new policy, virtual assets are formally incorporated into the country's civil law framework, and a licensing system for cryptocurrency exchanges has been established by the central bank. However, it is important to note that the decree explicitly states that digital currencies are not yet recognized as legal tender, means of payment, or securities in the country—meaning the regulatory framework is in place first, while application scenarios will need to be gradually expanded.

A noteworthy background is that Turkmenistan, as a major energy exporter, has long relied on natural gas trade. Now shifting focus to the crypto ecosystem, this somewhat reflects the country's exploration of economic diversification. However, considering that the country's internet remains under strict government control, how this system will be implemented and enforced remains to be seen.

What does this move mean for the blockchain industry? From a broader trend perspective, more and more countries are moving towards developing regulations rather than outright bans. For mining and trading practitioners, this opens up a potential market; for investors, it signals another step toward global compliance.

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MetaverseHobo

· 2h ago

Turkmenistan is trying to ride the hype again, but this regulation seems more like a formality; it might take another two years before it can actually be implemented. With such strict internet controls, why do they think encryption can flow freely... Basically, they just want tax revenue. Central Asia is indeed active, but it still feels a bit off for energy-producing countries to transition into crypto. Policy first, application later—this approach is now worn out; let's wait and see. Compliance signals are compliance signals, but can deposits and withdrawals really go smoothly without issues?

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FloorSweeper

· 5h ago

Turkmenistan's recent moves seem to be about first establishing the framework, with actual implementation depending on the attitude of the network administrators. Another country is starting to regulate in a compliant manner rather than simply banning outright. This trend is indeed changing. If truly enforced, Central Asia will have another mining location with cheap energy. With such strict internet regulation, how the crypto policies will be pushed forward remains a question mark. The attempt at economic diversification is always better than walking on a single leg. The framework is in place but lacks payment effectiveness, which still feels a bit hollow.

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ILCollector

· 5h ago

Turkmenistan is back? The internet is so heavily regulated, and they still want to mine cryptocurrencies. How is that possible? They said fiat currency wouldn't be given any status, so what's the point of this recognition? The energy-rich country turns to crypto, probably making more money than burning natural gas, but who knows how long they can stick to it. This is another policy that seems open but actually restricts, a classic Central Asian trick. Oh my God, another potential new target for retail investors. My goodness!

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BTCWaveRider

· 6h ago

Turkmenistan is back to join the fun. With such internet restrictions, do they still want to play crypto? First, open up the internet and then talk. Energy-rich countries all want to turn to mining. It seems they are really getting desperate; natural gas business is no longer so easy. It's always the same pattern: framework first, then application. We've seen this routine too many times; in the end, it just becomes a formality. Finally, a Central Asian country is playing it straight, more progressive than some places. This is what we call real action. Regulation first is smart, but can we trust exchanges in places with internet controls? That's a problem. Mining has another new area; will the hash power flock there? It depends on electricity prices. Once again, using the "not recognizing legal tender" rhetoric—are they really aiming for compliance or just trying to cut the leeks? For a major energy country to get into crypto, it's mainly to hedge against international sanctions risks. That's the real logic. Can a country with such strict government control really run a good exchange? It seems a bit doubtful. Mining is a positive signal, but who bears the political risks of this country? Not too optimistic.

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SmartContractDiver

· 6h ago

Another country has opened the floodgates, but the currency status is still just a showpiece. With such strict internet controls, can mining really take off? A major energy country playing with mining? That logic is quite interesting. Framework first, scenarios added later? Sounds like just testing the waters. Compliance signals are everywhere, but it's still early to say it can really be used. This move in Central Asia is interesting, but whether it truly makes money depends on what follows. Regulation in place ≠ genuine openness, don’t be fooled. It's both licensing and frameworks, but it all feels like just talk on paper.

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NotFinancialAdviser

· 6h ago

Turkmenistan's move is quite interesting; even energy-rich countries want a piece of the pie. With such strict regulatory frameworks, it's hard to tell what tricks they can pull. The internet is already heavily regulated; can this system really get off the ground? Another country embracing crypto, but whether it will truly take hold depends on the follow-through. Central Asia is starting to loosen up; will this influence neighboring regions later on? Don't be too optimistic; the fiat currency status remains unchanged, and its utility is limited. An attempt at economic diversification, but it's still uncertain how this move will unfold.

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