Binance allows cryptocurrency trading for Syrians after US sanctions lifted

- Cryptocurrency exchange Binance said on Thursday it will allow users in Syria to trade cryptocurrencies, including Bitcoin, following the United States' decision to lift sanctions on Syria last month.

Binance, the world's largest cryptocurrency exchange, added that Syrians will have full access to its products and services, which include more than 300 types of cryptocurrency tokens and stablecoins pegged to the dollar or other currencies.

Binance announced that the Syrian pound can now be used to buy and sell cryptocurrencies on the platform.

Last month, the administration of US President Donald Trump surprisingly announced the lifting of sanctions on Syria, where an Islamist-led government took power after the overthrow of Bashar al-Assad in December.

Trump said he made this decision at the request of Saudi Arabia, which led the efforts to lift sanctions on Damascus.

Syria's new leaders hope to achieve rapid progress in public services, including internet access, after more than 13 years of civil war and decades of Western sanctions.





(Prepared by Salma Najm for the Arabic Bulletin - Edited by Rehab Wali)