This law regulates processes related to the creation, use, and circulation of virtual assets in the country. It is important to note that cryptocurrencies do not have the status of a means of payment, currency, or security in Turkmenistan and can be either secured or unsecured.
To operate cryptocurrency exchanges and exchangers, a license from the Central Bank will be required. Their services include buying and selling, exchanging, transferring, storing, managing, and controlling virtual assets, as well as financial services related to initial placements. Before opening a crypto wallet, users must undergo identification and verification in accordance with anti-money laundering legislation.
The law also establishes requirements for cryptocurrency advertising, which must warn about risks, the possibility of total loss of funds, and the absence of state guarantees. Advertising must not contain promises of profitability, information about bonuses, or claims of easy wealth through transactions with virtual assets.
