At the Turkmen-Chinese business forum, Sahyberdi Kalandarov, Director General of the leading IT company Turkmen-Tranzit, presented a strategic vision for the development of a national crypto-infrastructure. The key thesis of the presentation was the necessity of relying on local cybersecurity competencies to ensure the country’s financial independence.
A New Legal Reality
On 1 January 2026, the historic Law “On Virtual Assets” came into force in Turkmenistan, officially legalizing mining and the operations of crypto exchanges. According to Kalandarov, the law has paved the way for the creation of a controlled and secure digital economy.
Security Lessons: Why Foreign Platforms Pose a Risk
Analyzing international experience, the speaker cited examples of critical vulnerabilities and political risks. He mentioned attacks on the Drift Protocol and the Kyrgyz exchange Grinex, as well as the freezing of assets on the Russian platform Garantex.
“First, relying on foreign jurisdictions in the sphere of crypto-assets is lethally dangerous. Second, the security of national infrastructure must be built-in at all levels: from hardware to organizational,” Kalandarov stressed.
According to the expert, national infrastructure security must be integrated at every stage: from modern SSL encryption and DDoS protection to storing keys on Hardware Security Modules (HSM) and utilizing “cold wallets” (disconnected from the Internet), where up to 98% of exchange users’ assets should be kept.
The Role of National IT Companies
The report paid special attention to the critical importance of involving local developers in building the digital ecosystem. Sahyberdi Kalandarov highlighted three reasons why the participation of national companies is vital, as sovereignty is impossible without relying on domestic players:
- Confidentiality and Control: Only a resident company of Turkmenistan, holding the necessary state licenses for information protection, can ensure a full cycle of development and source code auditing. It is unacceptable to allow “implants” or backdoors from foreign vendors into the core of the country’s financial system.
- Integration with State Services: Only a local player is capable of seamlessly integrating a crypto exchange with state registries, identification systems, and Central Bank requirements. This will create a legal and transparent entry point into the world of digital assets for citizens and businesses.
- Legal Accountability: A local company operates within the same legal framework and time zone as its clients. It bears full responsibility under the laws of Turkmenistan, providing a guarantee for users.
Economic Prospects
The creation of a secure national mining pool and crypto exchange will open a range of strategic opportunities for Turkmenistan. Kalandarov highlighted several key benefits:
- Attracting Investment: Clear regulation and a high level of protection will attract both local and foreign investors, including those from friendly nations where legislation permits registration as miners.
- Developing the Technology Sector: Establishing such an infrastructure serves as a powerful driver for the IT industry in Turkmenistan. It creates new jobs and facilitates the training of specialists in cybersecurity, cryptography, and blockchain.
- Strengthening Economic Sovereignty: A national crypto-infrastructure is a tool for secure international settlements, reducing dependence on external factors and increasing economic resilience.
“Cryptographic protection built on the competencies and technologies of Turkmenistan is not just an option. It is the only possible foundation that will allow us to avoid repeating others’ mistakes and build a secure, prosperous digital future for our country,” concluded the head of Turkmen-Tranzit. /// nCa, 29 April 2026