TLDR

• New 2026 law licenses exchanges and enforces strict KYC and custody.
• Mining requires central bank approval with identity and cold storage.
• State may restrict unbacked tokens to protect financial stability.
• Law aims to modernize economy and attract formal crypto investment.
• Heavy regulation could curb decentralization but boost security.

Turkmenistan approved a sweeping law to legalize and regulate crypto operations nationwide. It will take effect January 1 2026 and impose firm rules on exchanges, mining, and custody. The law marks a major shift toward clear oversight of all virtual asset activity across the country.

Regulating Exchanges and Custody Services

The legislation demands all crypto exchanges obtain licenses…