As interest in Bitcoin (BTC) and cryptocurrencies continues to grow around the world, countries are gradually legalizing cryptocurrencies.
The latest news on this point comes from Turkmenistan, which has signed its first national crypto regulatory law.
Turkmenistan President Serdar Berdimuhamedov signed a law regulating the cryptocurrency industry, according to local news source Business Turkmenistan.
Turkmenistan, one of the Central Asian countries, enacted this law to legalize and regulate digital assets in order to diversify its economy and attract more investments.
Turkmenistan’s proposed law legalizes and regulates digital assets and introduces licensing for cryptocurrency exchanges and mining companies.
The law also requires registration for cryptocurrency mining and mining pool operations and prohibits undercover operations.
According to the law, which will come into force on January 1, 2026, the state can stop, cancel and require the return of token issuances.
The relevant law also defines the legal and economic status of digital assets and will regulate their storage and trading within the country.
However, the relevant law clearly states that cryptocurrencies are not legal tender, currency or security in Turkmenistan.
Turkmenistan also draws attention with having the world’s 4th largest gas reserves.
*This is not investment advice.