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 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.
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.