Turkmenistan has officially legalized and regulated digital assets, including licenses for cryptocurrency exchanges and crypto mining companies, according to state media reports on Friday.

The Neutral Turkmenistan newspaper reported that President Serdar Berdymukhamedov signed the law, which is set to come into force on January 1, 2026.

A mostly desert nation with the world’s fourth-largest gas reserves, Turkmenistan has recently sought to diversify its economy beyond natural gas exports, which are primarily sent to China.

A government spokesperson said the law will “help attract investment and stimulate digitalization.” It regulates the creation, storage, placement, use, and circulation of virtual assets, establishing their legal and economic status in the country.

The move places Turkmenistan alongside other Central Asian countries like Kyrgyzstan, which has launched a national stablecoin in partnership with Binance, positioning the region as an emerging hub for crypto development.