Duty LXD-7002
Provides financial services, in Turkmenistan
Law on Virtual Assets, Custody and Platform Protection Duties of Virtual Asset Service Providerssince 5 lines
Law of Turkmenistan "On Virtual Assets" of , arts. 29, 31, 33 and 35 · Read the law's page
- This binds a virtual asset service provider licensed by the authorized body, including a crypto exchange acting as one, for virtual asset services provided on specialized platforms in Turkmenistan (reached by declaring that you are a crypto-asset provider); the Law applies from (articles 31 and 43).
- If you offer storage of virtual assets, keep your clients' funds on electronic media not connected to the Internet (cold wallets), in the manner a legal act of the authorized body sets (article 29(6)).
- If you offer custody, management and control of virtual assets, preserve the virtual assets or the instruments that control them, and move them only on the owner's instruction (article 29(5)).
- If you run a crypto exchange, protect your clients' personal information and virtual assets (article 33(3)).
- Protect your specialized platform and the personal data stored on it in accordance with Turkmenistan's legislation on information and cybersecurity (article 31(9)).