Turkmenistan vs Turkey
Crypto regulation comparison
Turkmenistan
Turkey
Legal
Legal
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.
Turkey has one of the highest crypto adoption rates globally, driven by lira depreciation and high inflation. While crypto ownership is legal, the CBRT banned crypto payments in April 2021. In 2024, Turkey passed comprehensive crypto legislation under the Capital Markets Law amendment, giving the CMB authority to license and regulate crypto asset service providers. No crypto-specific tax exists yet, though legislation is under consideration. MASAK (Financial Crimes Investigation Board) oversees AML compliance.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
0% (legislation pending)
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Central Bank of Turkmenistan
Regulator
CMB (Capital Markets Board), CBRT (Central Bank), MASAK
Stablecoin Rules
Regulated under Virtual Assets Law
Stablecoin Rules
Under development; CBRT banned crypto for payments
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
Key Points
- 2024 Capital Markets Law amendment gives CMB authority to license crypto platforms
- CBRT banned the use of crypto assets for payments in April 2021
- No crypto-specific tax currently; capital gains tax legislation under discussion
- MASAK enforces AML/KYC requirements on crypto platforms
- Turkey ranks among top 5 globally for crypto adoption (driven by lira depreciation)