Syrians will now be able to trade cryptocurrencies on the Binance trading platform, following the US decision last month to lift sanctions on the war-torn country.
“Financial freedom should be for everyone,” Binance, the world’s largest cryptocurrency exchange, said in a statement announcing the decision on Thursday. “Syrian residents can now securely participate in the digital asset economy. For years, people in Syria have watched the crypto world evolve, unable to participate, not by choice but by circumstance.”
The company said that in compliance with sanctions, it did not serve users in Syria. Binance said that crypto has “become a lifeline” for many people facing high inflation and/or relying on cross-border remittances, and now Syrians will be able to access it. Syria has a population of 24 million and more than 8 million Syrians live abroad.
Why it matters: Binance is the world’s largest cryptocurrency exchange,…
