Turkmenistan rings in new year with crypto exchanges, miners

Turkmenistan has started the year with a bang, with new laws legalizing the operation of crypto exchanges and crypto miners kicking in on Thursday.

Crypto mining and trading are now legal in Turkmenistan after a new law signed by President Serdar Berdimuhamedow in late November took effect on Thursday. 

Implementation of the new laws could see the central Asian country’s economy expand beyond its heavy reliance on natural gas exports by tapping surplus energy for crypto mining, following the lead of neighboring country Kazakhstan.

Turkmenistan is considered one of the more closed-off countries in the world, but has taken several steps to open up its economy in recent years, including to the tourism and energy sectors.

Read more