Kyrgyzstan vs Turkmenistan

Crypto regulation comparison

← Back to map | Kyrgyzstan | Turkmenistan
Kyrgyzstan

Kyrgyzstan

Turkmenistan

Turkmenistan

Legal
Legal

Kyrgyzstan adopted the Law on Virtual Assets in 2022 requiring licensing for exchanges, mining, and VASPs. Over 120 licensed VASPs operate. Crypto turnover exceeded traditional securities market in 2024.

Turkmenistan enacted the Law on Virtual Assets effective January 2026, legalizing crypto exchanges and mining under Central Bank licensing. Crypto is treated as property, not legal tender.

Tax Type Income
Tax Type None
Tax Rate 10%
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator State Financial Supervision Authority
Regulator Central Bank of Turkmenistan
Stablecoin Rules Regulated under Virtual Assets Law
Stablecoin Rules Regulated under Virtual Assets Law
Key Points
  • Law on Virtual Assets adopted in 2022 with licensing framework
  • Over 120 licensed VASPs active by late 2024
  • Three license types: trading operator, currency exchanger, mining operator
  • Crypto sector contributed 800M KGS in taxes in 2024
  • Virtual assets not recognized as legal tender but circulate under special regime
Key Points
  • Law on Virtual Assets enacted November 2025, effective January 2026
  • Crypto exchanges and mining require Central Bank licensing
  • Crypto treated as property, not legal tender
  • Banks prohibited from directly providing crypto services
  • Low electricity costs attract mining operations
Sources
Sources