Binance Opens Cryptocurrency Trading to Syrians Following Lifting of U.S. Sanctions
June 12, 2025
In a significant development for cryptocurrency accessibility in Syria, Binance, the world’s largest cryptocurrency exchange, announced on Thursday that it will permit users in the country to trade a wide variety of cryptocurrencies. This change comes after the United States government lifted sanctions on Syria last month, a move that has garnered considerable attention.
Access to a New Market
With this decision, Binance users in Syria will gain full access to a diverse range of offerings available on the platform. This includes over 300 cryptocurrency tokens and stablecoins, providing Syrians with the opportunity to engage in the global cryptocurrency market. Furthermore, the Syrian pound is now accepted on the exchange for buying and selling cryptocurrencies, a pivotal step towards facilitating trading activities for local users.
Context of the Sanctions Lift
The lifting of U.S. sanctions was made public by the Trump administration last month. This action has been described as unexpected, as sanctions had been in place for years against Syria, which has been under an Islamist-led government following the ousting of former President Bashar al-Assad in December 2023. President Trump indicated that the decision was made in response to requests from Saudi Arabia, a key advocate for the removal of such sanctions.
Aiming for Progress Post-Conflict
The newly established government in Syria is focusing on improving vital public services, including enhancing internet connectivity, which has been scarce due to 14 years of civil war and preceding decades of Western sanctions. This shift towards modernization and improved infrastructure could open the door for economic recovery and growth. Allowing cryptocurrency trading is seen as part of a broader strategy to reintegrate into the global economy.
Witnessing a Global Shift in Financial Dynamics
The entry of Syrians into the cryptocurrency space marks a notable evolution not only for Binance but also for the broader financial landscape in the Middle East. As countries navigate the challenges posed by economic sanctions and regional conflicts, the burgeoning world of digital currencies offers new avenues for financial inclusion and innovation.
In a time when digital currencies continue to gain traction globally, this move by Binance is poised to have immediate implications for Syrian citizens interested in diversifying their financial opportunities. As the region adapts to rapidly changing political and economic conditions, the expansion of cryptocurrency trading could play a role in fostering resilience and promoting economic development.
Reporting by Shubham Kalia and Devika Nair in Bengaluru. Editing by Tomasz Janowski and Joe Bavier.
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