Turkmenistan legalized cryptocurrency mining and exchange on Thursday, a significant shift for the country’s controlled and gas-dependent economy. This is reported by the Associated Press, according to UNN.
Details
Turkmenistan, one of the world’s most isolated countries, officially legalized cryptocurrency mining and exchange on Thursday, a significant shift for the country’s tightly controlled and gas-dependent economy.
– the publication writes.
The law signed by the president, which regulates virtual assets, subordinates cryptocurrencies to civil law and establishes a licensing scheme for cryptocurrency exchanges controlled by the country’s central bank.
However, digital currencies will still not be recognized as a means of payment, currency, or security. The internet in Turkmenistan also remains strictly regulated and controlled by the government.
– adds the publication.
Recall
Donald Trump’s Trump Media and Technology Group (TMTG) announced the release of a new digital token. The cryptocurrency is planned to be distributed among the company’s investors in partnership with the Crypto.com exchange. The project will run on the Cronos blockchain.