Syrians can now access the world’s largest cryptocurrency exchange, Binance, for the first time in years, following a major shift in international policy. This development comes after the United States and European Union lifted most economic sanctions on Syria in late May, responding to the country’s recent political transition.
Sanctions Lifted After Leadership Change
The U.S. Treasury suspended sanctions on Syria on May 23, shortly after President Trump announced at a Gulf Cooperation Council summit that the U.S. would end restrictions to support Syria’s recovery. The European Union followed suit, unfreezing Syrian bank assets and allowing transactions in key sectors. These moves came after Bashar al-Assad’s government was overthrown in December 2024, with a transitional administration led by President Ahmed al-Sharaa now in place.
Binance Welcomes Syrian Users
With sanctions lifted, Binance has removed Syria from its list of prohibited countries. Syrian residents can now register, complete identity checks, and trade over 300 cryptocurrencies, including Bitcoin and Ethereum. Binance is also offering Arabic-language support and educational materials to help new users navigate digital assets.
Economic Hope for Millions
Syria, home to about 21-24 million people with millions more living abroad, has faced years of economic hardship and inflation. Even under sanctions, Syrians showed strong interest in cryptocurrency as a financial alternative. The reopening of Binance gives families new options for cross-border payments and savings, which could be a lifeline for those struggling with a weak local currency.
U.S. officials say the sanctions relief is designed to encourage investment and economic growth, but they will continue to monitor Syria’s progress toward stability and security. For many Syrians, however, the ability to access global financial tools marks a hopeful step toward rebuilding their lives.
