Central Asia’s Cryptocurrency Pivot: New Opportunities, New Risks — Bloomsbury Intelligence and Security Institute (BISI)
Implications
Turkmenistan has introduced opportunities for individual entrepreneurs to benefit from crypto mining and exchange cryptocurrency. However, the country’s crypto development is lagging due to its strict government oversight. The Turkmen government does not treat crypto as everyday money, and its practical scope remains limited by low adoption among citizens. This showcases how some Central Asian governments remain reluctant to push for full adoption.
In Uzbekistan, by contrast, the state has moved beyond ambiguity and tried to domesticate crypto through the law. In 2023, Uzbekistan legalised the buying and selling of cryptocurrency, but only through strictly regulated domestic providers. Now, Uzbekistan’s President…
