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In this paper, joint dynamic frequency selection and transmit power control problem with the goal of power minimization for a target SINR is investigated for cognitive radio networks. The optimization problem is formulated and three algorithms are proposed: A centralized algorithm based on graph coloring, and two distributed algorithms based on game theory; one for coordinated and the other for non-coordinated scenarios. Performance of the proposed algorithms in terms of power minimization and convergence speed is evaluated through simulations. Comparing the performance with the optimum solution, all three algorithms show near-optimum power minimization performance for the simulated scenarios. Based on these results, scenarios in which each algorithm is more appropriate to be used are identified.