Turkmenistan

Legislation signed by President Serdar Berdimuhamedov establishes a licensing scheme overseen by country’s central bank.

Turkmenistan, one of the world’s most isolated nations, has officially legalised mining and exchanging cryptocurrency in a major shift for the country’s tightly controlled, gas-dependent economy.

President Serdar Berdimuhamedov signed the legislation on Thursday, regulating virtual assets under civil law and establishing a licensing scheme for cryptocurrency exchanges overseen by the country’s central bank.

However, digital currencies will still not be recognised as a means of payment, currency or security.

Turkmenistan, a former Soviet country in Central Asia, relies heavily on the export of its vast natural gas reserves to support its economy.

China is the country’s main importer of gas, and Turkmenistan is currently working on a pipeline to supply gas to Afghanistan, Pakistan and India.

Turkmenistan has been taking steps to digitalise government functions as well as its economy.

In April, it adopted a law introducing electronic visas aimed at simplifying entry for foreigners.

After gaining independence in 1991, the tightly governed nation typically placed strict entry requirements on would-be visitors, with many visa applications turned down for unclear reasons.

A mostly desert country of seven million people with the world’s fourth-largest natural gas reserves, Turkmenistan declared itself officially neutral in 1995 under its first president, Saparmurat Niyazov, who spurned both Western and Russian influence.

Until his death in 2006, Niyazov maintained tight control over politics, a policy of isolationism from the outside world, and an economy heavily based on natural gas exports.

Since succeeding his father as president in 2022, Berdymukhamedov has signalled some opening.

In December, he hinted at possible political reforms ahead of a meeting with Russian President Vladimir Putin, Turkish President Recep Tayyip Erdogan and Iran’s Masoud Pezeshkian.

“We are carrying out extensive work aimed at transforming our neutral country into a powerful, democratic, and rule-of-law state where citizens live happy lives,” Berdymukhamedov said in the article, without giving further details.

While Turkmenistan’s internet remains tightly regulated and controlled by the government, curbs on social media have been eased, and the government has pledged to open new air transport links and liberalise its visa system.

Still, the country is ranked by the Committee to Protect Journalists as one of the worst in the world for independent media.

Kyrgyzstan, another former Soviet Central Asian republic, has also positioned itself as a regional leader in the sector, launching a national stablecoin in partnership with cryptocurrency exchange Binance.

The apocalyptic site, dubbed a ‘doorway to hell’, exists right here on Earth and has been burning since 1971 — only one person is known to have ever descended inside.

Straight out of a dystopian thriller, a fiery ‘Gate to Hell’ exists right here on Earth.

This ominous sight, located in Turkmenistan, has been aptly named the ‘Doorway to Hell’, having first been set alight back in 1971. Over half a century later, it’s still burning. The Darvaza Gas Crater, locally known as the Shining of Karakum, is a blazing sinkhole that’s been spewing out natural gas since 1971.

Legend has it that Soviet geologists accidentally collapsed a natural gas chamber while drilling and subsequently set it on fire in an attempt to contain the lethal gases and prevent them from spreading. What the engineers anticipated would be a flame extinguishing itself within a few weeks has now been burning for over 50 years (hardly surprising given that the country ranks fourth globally in natural gas reserves).

Interestingly, Turkmenistan holds no official records of the incident as relevant documentation is either classified, inaccessible, or missing from the archives – consistent with the country’s policy of secrecy. This ‘Gate to Hell’ can be found ablaze near the village of Darvaza, nestled in the heart of the Karakum Desert, and measures approximately 60-70 meters wide and 98ft deep.

The hellish pit can be seen from miles around and has become a major tourist attraction for Turkmenistan, reports the Daily Star. Despite the seemingly inhospitable conditions of this blazing chasm, visitor accounts suggest that, astonishingly, there may be some signs of life within the crater.

The only known human descent into the crater was undertaken by Canadian explorer George Kourounis. In November 2013, Kourounis ventured to the bottom of the Darvaza Gas Crater with National Geographic, aiming to gather soil samples for the Extreme Microbiome Project to investigate potential signs of life in the crater’s harsh environment. Equipped with a specialised heat-resistant suit, Kourounis managed to spend roughly 17 minutes inside the fiery abyss.

During the thrilling exploration episode, Kourounis described their mission as “looking for alien life right here on Earth”, given that the crater’s hostile, methane-rich environment mirrors that of certain planets found beyond our solar system. And indeed, they discovered signs of life. Kourounis’ expedition unearthed several types of bacteria in the soil from the crater floor.

Recounting his experience of the apocalyptic ‘Door to Hell’, Kourounis said: “It is burning with a tremendous amount of flame like there is a lot of fire down there. Day or night, it is clearly burning. You can hear the roar of the fire if you stand at the edge. The heat, if you are downwind of it, is unbearable. There are thousands of little flames all around the edges and towards the centre. It’s a very volatile place.”

Now, in a dramatic twist, after blazing fiercely for more than 50 years, it appears the flames in this ‘Gateway to Hell’ are at last dying down, though gradually. During a press briefing in June this year, Irina Luryeva, a director at Turkmenistan’s state-owned energy firm Turkmengaz, revealed to the world that the crater was finally burning out, stating: “The reduction [in fires] is nearly threefold. Whereas before a huge glow from the blaze was visible from several kilometres away, hence the name ‘Gateway to Hell’, today only a faint source of combustion remains.”