Turkmenistan legalizes crypto mining and exchanges in bid to boost economy
2025 was a difficult year for crypto markets. Although bitcoin did see a new all-time high, it reversed those gains and finished the year lower, down 6%.
Entering 2026, the bitcoin price has started to pick up from its recent $85,000 low, currently trading around the $92,500 level, writes Simon Peters, cryptoasset market analyst at multi-asset investment platform eToro.
. Spot bitcoin ETFs saw their biggest inflow since mid-November on Friday, bringing in $471.3 million, with BlackRock’s IBIT seeing $287.4 million its biggest day in three months.
There is a slew of economic data being released this week which could provide further tailwinds. ISM manufacturing and services PMI data, ADP employment change, JOLTS job openings and the big one on Friday, the latest non-farm payrolls and unemployment change data.
A break of the recent $94,000 resistance level could open the door to further upside moves.
BIGGEST MOVERS
$PEPE has been one of the biggest movers in the crypto space over the last seven days, up 60%, as interest in memecoins picks up amidst a broader rebound in crypto markets. $BONK and $FLOKI have also seen notable gains, up 47% and 37% respectively.
Discover more here: https://www.etoro.com/discover/markets/cryptocurrencies/market-movers
EYE-CATCHING STORIES
Turkmenistan legalizes crypto mining and exchanges in bid to boost economy
Turkmenistan has officially legalized cryptoasset mining and operation of crypto exchanges in the country in a bid to boost its economy, which currently is heavily reliant on natural gas exports, and attract foreign investment.
The Turkmenistan government also framed crypto mining as a way to use excess energy from gas productions and create income.
The new legislation defines crypto as ‘virtual assets’ under civil law and establishes a licensing scheme for crypto exchanges overseen by the country’s central bank. However, crypto is not yet recognized as legal tender and cannot be used for everyday payments or as official money.
Nevertheless this is a significant policy shift for a country that has tightly controlled its economy and internet access for decades.
