• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Bitcoin Legalization and Digital Strategy for Syria: SCER's Proposal Details

user avatar

by Giorgi Kostiuk

3 months ago


The Syrian Center for Economic Research (SCER) has developed a proposal for the government to legalize Bitcoin and digitize the Syrian pound to overcome the economic crisis.

SCER's Vision for Syria

If implemented, the initiative would mark a crucial shift in Syria’s monetary policy, aiming to curb inflation, stabilize the local currency, and attract foreign investment in a war-torn economy. The proposal details a regulatory framework that would legalize the exchange, trading, and mining of Bitcoin and other digital assets in compliance with both domestic and international standards. Central to the plan is the digitization of the Syrian pound using blockchain, backed by gold and other reserves.

Challenges in Proposal Implementation

Despite its promise, the proposal faces significant hurdles, including a lack of technological infrastructure, limited public awareness, and geopolitical challenges. SCER clarified that the transitional government has neither approved nor considered this proposal, adding that they have more pressing issues to address.

We also emphasise that this is NOT meant to circumvent international sanctions. We believe that sanctions should be lifted URGENTLY through legal and political processes in accordance with international law.

Calls for Sanctions Relief

The latest developments come amidst new statements from Syria’s Foreign Minister Asaad Hassan al-Shibani, calling for an urgent lifting of international sanctions. Al-Shibani argued that the sanctions, initially imposed to pressure the Assad regime in 2011, are no longer relevant and hinder Syria's recovery.

SCER's proposal to legalize Bitcoin and digitize the Syrian pound presents a potential strategy for economic growth, but faces existing challenges to its implementation.

0

Share

Other news

South Korea Kicks Off CBDC Trial: Business Participation and Digital Payment Benefits

South Korea launches a digital currency trial with business participation to assess efficiency and security.

user avatarGiorgi Kostiuk

a few seconds ago

Examining Trump's Tariff Strategy: Economic and Geopolitical Impacts

The impact of Trump's tariffs on global economies and politics, focusing on China, the EU, and Mexico.

user avatarGiorgi Kostiuk

9 minutes ago

Dragoin: Emergence of a Leading Meme Coin in 2025

Dragoin stands out by combining meme appeal with true utility, bringing innovations to the meme coin industry in 2025.

user avatarGiorgi Kostiuk

10 minutes ago

South Korea's Digital Currency Experiment: New Frontiers in Financial Technology

South Korea initiates a nationwide CBDC trial. Companies and consumers participate to analyze digital currency usage.

user avatarGiorgi Kostiuk

10 minutes ago

Decentralized Finance with Mutuum Finance: A New Era in Financial Technology.

Mutuum Finance (MUTM) offers a unique model of decentralized lending with mtTokens and a stable economic architecture.

user avatarGiorgi Kostiuk

10 minutes ago

FDUSD Falls 11% After Rumors of Issuer's Insolvency Emerge

FDUSD devalues after Justin Sun's claims about the potential insolvency of First Digital Trust circulate.

user avatarGiorgi Kostiuk

11 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.