Turkmenistan has drafted a law titled “On Virtual Assets,” aimed at regulating activities in the digital asset sector, Deputy Prime Minister Hojamyrat Geldimyradov announced during an online Cabinet of Ministers meeting on Friday, according to Turkmenistan’s state news agency.

The document defines the legal basis for state regulation in the field and includes provisions related to business operations, mining, issuance, and public offering of virtual assets, as well as the activities of service providers in this area.

The adoption of the draft law is intended to establish a legal framework for the implementation of digital solutions and to promote the development of financial technologies.

The proposal was submitted to President Serdar Berdimuhamedov for consideration. The head of state instructed the deputy prime minister to continue work on the initiative in cooperation with the Mejlis of Turkmenistan.

A number of domestic policy issues were also reviewed during the meeting of Turkmenistan’s Cabinet of Ministers.