Local media reported that President Serdar Berdimuhamedov signed a new law establishing procedures for the issuance, storage, and trading of digital assets.

According to the law, citizens of Turkmenistan will be able to mine, sell, and store cryptocurrency, but will not be able to use it as a means of payment.

To mine digital assets, miners must first register with the country's Central Bank. Shadow mining, or the use of someone else's infrastructure for mining without the owner's knowledge and consent, is strictly prohibited.

Similar rules apply to cryptocurrency exchanges, which must be registered with the country's central monetary regulator. They must also comply with strict Know Your Customer (KYC) and Anti-Money Laundering (AML) laws.

Advertising will also be strictly controlled. For example, tokens are prohibited from repeating national symbols or the name "Turkmenistan" in their name, image, or branding. The same applies to the word "state" and similar phrases that may be associated with this country.

Exchanges and other crypto companies will also be required to include disclaimers in their advertising materials, stating the possibility of total loss of funds. Finally, advertising is prohibited from mentioning "easy money," luxury, or minors.

It's important to note that prior to the adoption of this law, cryptocurrency mining and trading were not illegal or prohibited in Turkmenistan. There was simply no legal framework, meaning the entire industry operated in a gray area.