Turkmenistan is set to implement a Cryptocurrency Regulation Law starting on January 1st next year.

BlockBeats News, November 28th, according to Reuters, Turkmenistan has passed a law to legalize and regulate digital assets, including a licensing scheme for cryptocurrency exchanges and crypto mining companies. Turkmenistan's President Serdar Berdymukhamedov has signed the law, which will officially come into effect on January 1st.

According to a government spokesperson, the law is expected to attract investment and promote digitalization. The law covers a regulatory framework for the creation, storage, issuance, use, and circulation of virtual assets within Turkmenistan and clarifies their legal and economic status. Turkmenistan is a landlocked country in Central Asia.