Turkmenistan vs Uzbekistan
Crypto regulation comparison
Turkmenistan
Uzbekistan
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.
Uzbekistan has actively regulated crypto since 2018, when it established the NAPM (initially NAPCI) to oversee virtual assets. Licensed crypto exchanges operate in a regulatory sandbox. Individual crypto trading profits are exempt from tax. Uzbekistan has also established a state-backed mining pool and licensing regime for miners, leveraging its energy resources.
Tax Type
None
Tax Type
None
Tax Rate
N/A
Tax Rate
0%
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
Central Bank of Turkmenistan
Regulator
NAPM (National Agency for Prospective Projects)
Stablecoin Rules
Regulated under Virtual Assets Law
Stablecoin Rules
Regulated under NAPM virtual asset framework
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
- NAPM oversees virtual asset regulation and licensing
- Licensed exchanges operate under regulatory framework since 2018
- Individual crypto trading exempt from income tax
- State-backed mining pool and licensing for crypto miners
- Only licensed platforms can offer crypto services; unlicensed platforms blocked