ASHGABAT, Nov 28 (Reuters) – Turkmenistan has adopted a law legalizing and regulating digital assets, including licenses for cryptocurrency exchanges and cryptocurrency mining companies, state media reported on Friday.
The Turkmenistan Neutral newspaper reported that President Serdar Berdymukhamedov signed the law, which will come into force on January 1.
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A mostly desert country in Central Asia with the world’s fourth-largest gas reserves, Turkmenistan has recently attempted to diversify its economy beyond natural gas exports, which it sends mainly to China.
A government spokesperson told Reuters the law “will help attract investment and boost digitalization.”
The new law regulates the creation, storage, placement, use and circulation of virtual assets in Turkmenistan and defines their legal and economic status, the spokesperson said.
Reporting by Marat Gurt, writing by Felix Light; Editing by Mark Trevelyan
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