Syria’s economic outlook could brighten as the Syrian Center for Economic Research proposes the legalization of Bitcoin (BTC) as a cornerstone for financial reform. Amidst recovery from prolonged conflicts, the think-tank suggests BTC can curb inflation, attract foreign investment, and stabilize the national economy by transforming the Syrian pound with blockchain technology.
The ambitious strategy extends to legalizing BTC mining and trading, with a strong regulatory framework to avoid monopolies and limit environmental impacts. By digitizing the Syrian pound and backing it with assets like BTC, gold, and dollars, the plan also promotes the use of Syria’s resources for cryptocurrency mining.
As the country faces challenges such as foreign sanctions and technical deficits, embracing BTC offers a pathway to bypass traditional banking systems. This move aims to foster a transparent, robust financial system that benefits all Syrians, positioning Syria potentially as a pioneer in cryptocurrency adoption in the Middle East.
