Saudi Arabia vs Turkmenistan
Crypto regulation comparison
Saudi Arabia
Turkmenistan
Restricted
Legal
Saudi Arabia has an ambiguous but generally restrictive approach to cryptocurrency. SAMA has not licensed any crypto exchanges, and financial institutions are warned against dealing in crypto. However, crypto is not explicitly banned by law, and Saudi Arabia has participated in blockchain initiatives (Project Aber with the UAE central bank). No personal income or capital gains tax exists in Saudi Arabia.
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
None
Tax Type
None
Tax Rate
0%
Tax Rate
N/A
Exchanges
No
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
SAMA (Saudi Arabian Monetary Authority), CMA Saudi Arabia
Regulator
Central Bank of Turkmenistan
Stablecoin Rules
No regulation; crypto trading not authorized
Stablecoin Rules
Regulated under Virtual Assets Law
Key Points
- SAMA has not authorized or licensed any cryptocurrency exchanges
- Financial institutions warned against crypto transactions
- Crypto not explicitly banned but not regulated; exists in a legal gray area
- No personal income or capital gains tax in Saudi Arabia
- Saudi Arabia participated in CBDC experiments (Project Aber with UAE)
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
