**Turkmenistan: A Breakthrough or a Double-Edged Strategy in Cryptocurrency Policy?**

The country has officially opened up for cryptocurrency mining and trading, but the reality is much more complex. According to Odaily, Turkmenistan's President Serdar Berdimuhamedov has approved a decree allowing activities related to virtual assets; however, subsequent restrictions make this policy somewhat contradictory.

**What is Allowed and What is Banned**

Under Turkmenistan's new legal framework, cryptocurrency mining and trading on exchanges supervised by the Central Bank are considered legal. Organizations wishing to operate in this sector will need to obtain a license, indicating that the Turkmen government prefers to exercise strict control rather than impose a complete ban.

However, digital currencies are still prohibited from being used as a legal means of payment domestically. They are also not recognized as official currency or securities, significantly limiting their practical use.

**Economic Context Creating Pressure**

This move marks a strategic shift in Turkmenistan's economy, which mainly depends on revenue from natural gas exports. Amid global energy price fluctuations, Turkmenistan's pursuit of additional income sources through cryptocurrency mining reflects a desire to diversify its economy. This is especially important considering the government's tight control over other economic activities.

The policy demonstrates a delicate balance between embracing new technology and maintaining economic control, although its actual effectiveness remains a question to be observed.