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Syria

Retail_Trading_Status

Gray-Zone Unknown
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Status Changed

Previous status: Unclear

The primary difference between the two analyses is the shift in the assessed status of retail cryptocurrency trading in Syria from "Unclear" in the previous analysis (dated April 12, 2025) to "Gray-Zone" in the new analysis (dated June 26, 2025). This change is justified by significant developments that occurred between these two dates, which introduced new layers of complexity and contradiction to the regulatory landscape. The previous analysis determined the status as "Unclear" primarily due to the conflict between pre-existing restrictive laws (like Presidential Decree No. 54 of 2013) and a then-recent proposal by the Syrian Center for Economic Research (SCER) in late 2024/early 2025 to legalize Bitcoin. The uncertainty stemmed from the political transition and the unknown stance of the new transitional government regarding both the old laws and the new proposal. The core issue was a lack of clarity on future domestic policy direction. The new analysis updates the status to "Gray-Zone" based on several critical developments that transpired by June 2025: 1. Easing of International Sanctions and Exchange Accessibility: A major new factor, not present in the earlier analysis, is the reported easing of some U.S. and EU sanctions in May/June 2025. This directly led to major international cryptocurrency exchanges like Binance and Bitget announcing in June 2025 that they would offer services to Syrian nationals. This development created a practical, albeit externally driven, avenue for Syrians to engage in retail crypto trading, irrespective of domestic Syrian law. 2. Domestic Regulatory Warning: Contrasting with the new accessibility through international platforms, the new analysis incorporates a crucial warning issued by the Syrian Commission on Financial Markets and Securities (SCFMS) on June 17, 2025. This warning explicitly stated that platforms promoting cryptocurrency trading are not licensed in Syria and that such activities violate existing laws. This introduced a direct conflict between the de facto accessibility offered by international exchanges and the stated position of a domestic financial regulator. 3. Persistent Lack of Domestic Legal Framework: Both analyses acknowledge the absence of a specific legal framework for cryptocurrencies in Syria and the continued relevance of the SCER proposal (which, by June 2025, was still just a proposal and not adopted policy). However, the new analysis places this lack of framework in the context of the new, contradictory signals. Therefore, the justification for the change from "Unclear" to "Gray-Zone" is that the situation evolved beyond simple uncertainty about future policy. By June 2025, there was a tangible, albeit contradictory, reality: international exchanges began offering services to Syrians due to sanctions relief, creating a de facto trading possibility. Simultaneously, domestic regulators reiterated that such activities are unlicensed and illegal under current Syrian law. This creates a "Gray-Zone" where retail trading is practically possible through some channels but lacks domestic legal sanction and faces explicit warnings from local authorities. The previous "Unclear" status reflected a pending policy direction, while "Gray-Zone" reflects an active, complex, and somewhat contradictory operational environment.

Analysis ID
#475
Version
Latest
Created
2025-06-26 13:12
Workflow Stage
Live

Executive Summary

As of June 2025, Syria's regulatory landscape for retail cryptocurrency trading remains in a "Gray-Zone." There is a distinct absence of clear and comprehensive laws specifically governing cryptocurrencies. While the Central Bank of Syria (CBS) has issued warnings regarding the risks associated with virtual currencies, it has not enacted an official ban or established a formal regulatory framework. Consequently, the use and trading of cryptocurrencies operate in an ambiguous legal space, being neither explicitly legal nor explicitly illegal under Syrian law. Despite the lack of formal regulation, there has been a notable shift in accessibility, with major international exchanges like Binance entering the Syrian market following the easing of US and EU sanctions in mid-2025.

Key Pillars

  • Absence of Specific Legislation: No laws explicitly regulate, permit, or prohibit cryptocurrency activities.

  • Central Bank Warnings: The Central Bank has issued cautionary statements about the inherent risks of dealing with virtual currencies.

  • Currency Monopolization: Existing laws, such as Presidential Decree No. 54 of 2013 and the Syrian Currency Act of 2002, emphasize the Syrian pound as the sole legal tender for transactions, implicitly not recognizing other currencies, including cryptocurrencies.

Landmark Laws

Central Bank of Syria Statement
- Authority: Central Bank of Syria (CBS)
- Date: May 13, 2018
- Summary: This statement served as a public warning against dealing with "Virtual currencies," highlighting their risks. It did not constitute an outright ban but underscored the CBS's cautious stance and the lack of official recognition.

Presidential Decree No. 54 of 2013 and Amendment No. 3 of 2020
- Authority: President of Syria
- Date: 2013 (Decree) and 2020 (Amendment)
- Summary: These decrees prohibit the use of any currency or precious metals other than the Syrian pound for payments or commercial transactions, effectively limiting the legal tender status to the national currency.

Syrian Currency Act of 2002
- Authority: Syrian Government
- Date: 2002
- Summary: This Act designates the Syrian pound as the only recognized legal tender, with the Central Bank of Syria holding the sole authority to issue it. Cryptocurrencies are not classified as currencies under this act.

Domestic Trade and Consumer Protection Act of 2015 & Securities Act of 2005
- Authority: Syrian Government
- Date: 2015 and 2005, respectively
- Summary: Under these acts, cryptocurrencies are not legally considered commodities or securities, further contributing to their undefined legal status.

Considerations

  • Asset Classification: Cryptocurrencies in Syria currently lack a clear legal classification. They are not recognized as a currency, foreign currency, commodity, or security under existing laws. This ambiguity contributes significantly to the "gray-zone" status and means there are no specific legal protections or frameworks for crypto assets.

  • Taxation: As of June 2025, there are no specific tax laws or guidance from the Syrian authorities regarding the taxation of cryptocurrency gains, trading, or mining activities. Syria is undergoing general tax reforms aimed at simplification and transparency, but these efforts have not specifically addressed digital assets. The lack of legal recognition implies that a dedicated tax regime for cryptocurrencies is absent.

  • Anti-Money Laundering (AML) / Combating the Financing of Terrorism (CFT): Given the informal nature of crypto usage and the country's economic and political situation, there are inherent risks of cryptocurrencies being used for illicit activities. While no specific crypto-related AML/CFT regulations are in place, any future formalization would likely need to address these concerns.

Notes

  • Proposed Frameworks: The Syrian Centre for Economic Research (SCER), a non-governmental think tank, has put forth an ambitious proposal for a legal framework to regulate cryptocurrencies. This includes the potential creation of a "digital Syrian pound" backed by assets such as gold, Bitcoin, and the US dollar, and aims for legal recognition of crypto exchanges and mining operations. However, this proposal has not been formally adopted by the transitional Syrian government as of June 2025, nor is it expected to be in the immediate future due to other pressing issues.

  • Market Accessibility Shift: A significant recent development is the lifting of US and EU sanctions on Syria in May and June 2025, respectively. This has led to major global cryptocurrency exchanges like Binance launching or re-launching services in Syria, offering spot, peer-to-peer (P2P), and futures trading with support for the Syrian Pound. This increased accessibility, despite the lack of domestic regulatory clarity, highlights the growing practical use of cryptocurrencies in the country, especially for remittances and as a hedge against inflation.

  • Unofficial Adoption: Despite the regulatory void, cryptocurrencies are actively used in Syria, particularly in urban areas, often through peer-to-peer networks and VPNs, driven by economic devastation, hyperinflation, and a collapsed banking system.

Detailed Explanation

Syria's approach to retail cryptocurrency trading as of June 2025 is best described as a "Gray-Zone," a status cemented by the absence of explicit legal frameworks. This situation stems from the country's unique economic and political challenges, which have historically led to a cautious, yet undefined, stance on digital assets. The Central Bank of Syria (CBS) has publicly warned its citizens about the risks associated with "Virtual currencies" since at least May 2018. These warnings, while not constituting a legal ban, reflect the authorities' unease with unregulated financial instruments and their potential for volatility and misuse.The legal landscape further complicates matters. Under existing Syrian law, the Syrian pound is explicitly designated as the only legal tender for all transactions, as per Presidential Decree No. 54 of 2013 (and its 2020 amendment) and the Syrian Currency Act of 2002. Cryptocurrencies do not fit the definitions of "foreign currencies" under Law No. 6 of 2000, nor are they classified as commodities by the Domestic Trade and Consumer Protection Act of 2015 or as securities under the Securities Act of 2005. This lack of classification means that cryptocurrencies are not recognized within any established legal category, leaving their status in a de facto "gray area" – neither legal nor illegal. Activities related to crypto are simply not covered by explicit allowances or prohibitions.However, the practical reality of cryptocurrency use in Syria is evolving. The dire economic conditions, marked by severe inflation and a weakened national currency, have driven many Syrians to adopt cryptocurrencies as a means of preserving value, facilitating cross-border payments, and engaging in trade. This organic adoption, often occurring in an underground or informal manner, has gained significant new avenues for official access in June 2025. Following the easing of long-standing US and EU sanctions against Syria, major global cryptocurrency exchanges, such as Binance, have expanded their services to Syrian residents. This allows Syrians to access a wide range of digital assets, including Bitcoin and Ethereum, through spot, peer-to-peer (P2P), and futures trading, with the Syrian Pound now supported for P2P transactions, provided users complete Know Your Customer (KYC) checks. This marks a substantial shift from previous restrictions where Syrians faced significant barriers to accessing global crypto platforms.Despite these developments in accessibility, the foundational regulatory vacuum persists. There are no specific laws addressing the taxation of cryptocurrency gains, income from mining, or the inheritance of digital assets. While Syria's Ministry of Finance is implementing broader tax reforms to simplify the system and combat evasion, these initiatives have not yet included specific provisions for cryptocurrencies.Looking ahead, there have been proposals for a more formalized approach. The Syrian Centre for Economic Research (SCER), an independent think tank, has outlined a comprehensive plan, including the creation of a "digital Syrian pound" backed by gold, Bitcoin, and the US dollar, along with calls for legal recognition of crypto exchanges and mining operations. This ambitious vision aims to leverage blockchain technology to stabilize the national currency and attract investment. However, the transitional government has not formally endorsed this proposal, and the SCER itself acknowledges that official adoption is not expected in the near term, given the government's focus on other critical issues. This indicates that while the operational environment for retail crypto trading has become more permissive due to external factors, the domestic legal and regulatory clarity remains elusive, maintaining Syria's "Gray-Zone" status.

Summary Points

Here is the detailed regulatory analysis report on Retail Crypto Trading in Syria, converted into a clear, well-structured bullet point format:

## Retail Cryptocurrency Trading in Syria: Regulatory Analysis (June 2025)

Overall Regulatory Status: Gray-Zone

  • As of June 2025, Syria's regulatory environment for retail cryptocurrency trading is characterized as a "Gray-Zone."
  • There are no clear, comprehensive laws specifically regulating, permitting, or prohibiting cryptocurrency activities.
  • While the Central Bank of Syria (CBS) has issued warnings, there is no official ban or formal regulatory framework in place.
  • Cryptocurrency activities exist in an ambiguous legal space, being neither explicitly legal nor explicitly illegal under Syrian law.

### Key Regulatory Bodies and Their Roles

  • Central Bank of Syria (CBS):
  • Role: The primary monetary authority responsible for currency issuance and financial stability.
  • Action: Issued a public statement on May 13, 2018, warning against "Virtual currencies," highlighting their risks.
  • Stance: Maintains a cautious, non-recognizing stance, but has not enacted an outright ban or specific regulations.
  • Syrian Government (Legislature):
  • Role: Law-making body.
  • Action: Has not enacted any specific legislation to govern or define cryptocurrencies.
  • Syrian Centre for Economic Research (SCER):
  • Role: A non-governmental think tank.
  • Action: Proposed a framework for cryptocurrency regulation, including a "digital Syrian pound." (Note: This is a proposal, not a governmental regulatory action).

### Important Legislation and Regulations (and their implications for crypto)

There are no specific "landmark legislations" directly governing retail crypto trading. The current situation is shaped by existing laws that implicitly exclude or do not recognize cryptocurrencies:

  • Central Bank of Syria Statement (May 13, 2018):
  • Nature: A public warning against dealing with "Virtual currencies."
  • Impact: Signifies official caution and lack of recognition, but does not constitute a legal ban.
  • Presidential Decree No. 54 of 2013 (and Amendment No. 3 of 2020):
  • Provision: Prohibits the use of any currency other than the Syrian Pound for payments or commercial transactions.
  • Implication: Implicitly excludes cryptocurrencies as legal tender.
  • Syrian Currency Act of 2002:
  • Provision: Designates the Syrian Pound as the only recognized legal tender, with the CBS holding sole issuance authority.
  • Implication: Reinforces the non-recognition of cryptocurrencies as official currency.
  • Law No. 6 of 2000:
  • Implication: Cryptocurrencies are not classified as foreign currencies under this law.
  • Domestic Trade and Consumer Protection Act of 2015:
  • Implication: Cryptocurrencies are not legally considered commodities under this act.
  • Securities Act of 2005:
  • Implication: Cryptocurrencies are not classified as securities under this act.

### Requirements for Compliance

  • Domestic Regulatory Compliance:
  • Absence of Specific Laws: Due to the "gray-zone" status, there are currently no specific Syrian laws or regulations outlining compliance requirements for retail crypto trading or domestic crypto service providers.
  • No Licensing: No specific licenses are required from Syrian authorities for crypto-related activities.
  • International Exchange Compliance:
  • KYC (Know Your Customer): Major international exchanges (e.g., Binance) operating in Syria require users to complete KYC checks, adhering to their internal anti-money laundering (AML) and combating the financing of terrorism (CFT) policies.
  • AML/CFT: While Syria lacks specific crypto AML/CFT regulations, users engaging with international platforms are subject to the AML/CFT standards of those platforms.

### Notable Restrictions or Limitations

  • Legal Tender Status: Cryptocurrencies are not recognized as legal tender for payments or transactions within Syria.
  • Official Classification: Lack of legal classification as a currency, foreign currency, commodity, or security.
  • Regulatory Vacuum: Absence of specific laws for consumer protection, licensing, or oversight of crypto activities.
  • Taxation Clarity: No specific laws or guidance on how cryptocurrencies are classified or taxed.
  • Banking System Integration: Limited to no integration with the formal Syrian banking system, making direct bank transfers to/from crypto platforms challenging domestically.

### Recent Developments or Changes

  • Easing of Sanctions (May-June 2025):
  • US Sanctions: Eased in May 2025.
  • EU Sanctions: Eased on June 4, 2025.
  • Impact: This significant development has led to improved market access for Syrian users, previously restricted due to sanctions and IP blocks.
  • Major Exchange Entry/Re-entry (Binance):
  • Operations: Binance has launched or re-launched operations in Syria following sanction easing.
  • Offerings: Provides spot, Peer-to-Peer (P2P), and futures trading.
  • Local Currency Support: Now supports the Syrian Pound (SYP) for P2P transactions.
  • User Requirements: Requires users to complete KYC checks.
  • Proposed Regulatory Framework (SCER):
  • Details: The Syrian Centre for Economic Research (SCER) proposed a framework including a "digital Syrian pound" backed by hard assets (gold, Bitcoin, USD) and legal recognition for crypto exchanges and mining.
  • Status: This proposal has not been formally adopted by the transitional government and is not expected to be in the immediate future due to other pressing issues.
  • General Tax Reforms: Syria is undertaking general tax reforms aimed at simplification and increased transparency, but these efforts do not specifically mention or address cryptocurrency taxation.

### Asset Classification & Taxation

  • Asset Classification:
  • Undefined Status: Cryptocurrencies are not legally classified as a currency, foreign currency, commodity, or security under any existing Syrian law.
  • Implication: This ambiguity contributes significantly to the "gray-zone" status and means there are no specific legal protections or frameworks for crypto assets.
  • Taxation:
  • Absence of Specific Laws: As of June 2025, there are no specific tax laws or guidance from the Syrian government regarding the taxation of cryptocurrency gains, trading, or mining activities.
  • Likelihood: Given the lack of clear legal status for crypto, it is highly probable that specific tax regulations for crypto assets are also absent.

Full Analysis Report

Report on Retail Cryptocurrency Trading Status in Syria

Date: 2025-06-26

Topic: Retail_Trading_Status

Description: Assess whether individual citizens and residents in the country are legally permitted to buy, sell, and hold cryptocurrencies. Detail the regulatory environment surrounding this activity (e.g., KYC/AML requirements imposed on platforms, general warnings issued).

Retail_Trading_Status: Gray-Zone

1. Identified Current Status: Gray-Zone

2. Detailed Narrative Explanation:

The status of retail cryptocurrency trading in Syria is best described as a Gray-Zone. This is due to a complex interplay of factors including a lack of explicit legal framework, recent shifts in international sanctions, emerging discussions about cryptocurrency adoption by economic bodies, and cautionary stances from financial authorities.

Historically, and up until recently, the Syrian government has not had a clear or permissive stance on cryptocurrencies. Laws and regulations did not specifically address digital currencies, leading to an environment of uncertainty. Some interpretations even suggested an implicit prohibition based on existing laws like Presidential Decree No. 54 of 2013, which restricts payments to the Syrian pound. The Central Bank of Syria had previously indicated that cryptocurrencies were not being considered for adoption due to other national priorities and concerns about their speculative nature and potential for illicit use. Officials emphasized that any future recognized digital currency would need to be issued and regulated by the Central Bank itself.

Despite this cautious official stance, there has been significant interest and informal cryptocurrency activity among Syrians, often as a means to navigate economic instability, inflation, and international financial restrictions. Reports from 2021 and 2022 indicated high levels of online searches for Bitcoin and other cryptocurrencies originating from Syria.

A significant development occurred in May and June 2025, when the easing of some U.S. and EU sanctions on Syria reportedly led major cryptocurrency exchanges like Binance and Bitget to announce the availability of their services to Syrian nationals. These platforms stated that Syrian users could register, complete Know Your Customer (KYC) checks, and access a range of trading services, including spot trading, peer-to-peer (P2P) exchange, and futures trading. This move by international exchanges suggests an opening for retail trading, albeit driven by external factors (sanctions relief) rather than a proactive regulatory shift from within Syria.

Concurrently, there have been discussions within Syria regarding the potential legalization and regulation of cryptocurrencies. The Syrian Center for Economic Research (SCER), a non-governmental body, proposed a plan in early 2025 to legalize Bitcoin for financial transactions, trading, and mining, and to digitize the Syrian pound using blockchain technology. This proposal aims to stabilize the war-torn economy, attract investment, and bypass financial sanctions. However, it's important to note that this is a proposal from a think tank and, as of early 2025, had not been formally adopted or considered by the transitional government, which likely has more pressing priorities.

Adding to the complexity, on June 17, 2025, the Syrian Commission on Financial Markets and Securities (SCFMS) reportedly issued a warning stating that platforms promoting Forex and cryptocurrency trading are not officially licensed in Syria and that such activities violate existing laws. The Commission cautioned citizens against these high-risk investments and the potential for fraud. This warning from a domestic regulatory body contrasts with the recent accessibility offered by international exchanges following sanctions easing.

Therefore, the "Gray-Zone" status reflects this contradictory situation:
* No Explicit Legalization or Comprehensive Regulation: There is no specific, clear law from the Syrian government that explicitly permits and regulates retail cryptocurrency trading.
* Recent Accessibility via International Platforms: Following the easing of certain international sanctions, major exchanges have begun offering services to Syrians, implying a de facto ability to trade for those who can access these platforms and meet their KYC requirements.
* Cautionary Stance from Domestic Regulators: Domestic financial authorities continue to warn against unlicensed cryptocurrency trading, highlighting its illegality under current Syrian laws.
* Ongoing Discussions and Proposals: There are nascent discussions and proposals for future legalization and regulation, but these are not yet official policy.
* Pre-existing Informal Use: Syrians have been engaging with cryptocurrencies informally due to economic conditions.

The situation remains fluid. While international developments have opened avenues for retail trading, the domestic regulatory landscape is still characterized by a lack of specific frameworks and recent warnings from financial authorities, creating an ambiguous and complex environment for individual cryptocurrency traders in Syria.

3. Specific, Relevant Text Excerpts:

  • Regarding the previous lack of clear legal status (pre-2025 developments):

    • "In Syria, the laws and regulations do not have a precise attitude towards cryptocurrency... Crypto-related activities are not allowed or listed under Syrian laws, and it is not considered legal or illegal by any law or authority." (The Currency Analytics, August 28, 2021)
    • "على الرغم من النمو الهائل في مجال العملات الرقمية على مستوى العالم، فإن القوانين واللوائح التنظيمية في سوريا لم تكن واضحة تماماً حتى الآن. لا يوجد قانون صريح يمنع أو يسمح بتداول العملات الرقمية بصورة واضحة." (Ghost, September 25, 2024)
    • Translation: "Despite the enormous growth in the field of digital currencies globally, the laws and organizational regulations in Syria have not been entirely clear until now. There is no explicit law that clearly prohibits or permits the trading of digital currencies." (Ghost, September 25, 2024)
    • "The study found that there is no specific law in place that manages and supervises the issues and aspects concerned with cryptocurrencies." (ResearchGate, AN INVESTIGATION FOR A LEGAL FRAMEWORK GOVERNING CRYPTOCURRENCIES UNDER THE SYRIAN LEGISLATION: AN ANALYTICAL STUDY, June 14, 2020)

  • Regarding the Central Bank's past cautious stance:

    • "وأوضح فراس عيسى مدير تقانة المعلومات في مصرف سورية المركزي... أن العملات المشفرة في سوريا مؤجلة وليست ملغاة على الإطلاق، بل هي فكرة موجودة تنتظر الوقت الأمثل لاعتمادها..." (Syria TV, May 25, 2022)
    • Translation: "Firas Issa, Director of Information Technology at the Central Bank of Syria... explained that cryptocurrencies in Syria are postponed and not canceled at all, but rather an existing idea awaiting the optimal time for their adoption..." (Syria TV, May 25, 2022)
    • "وأكد عيسى أن الحديث عن عملات رقمية أو مشفرة يعني بالضرورة عملة رقمية مرتبطة وصادرة عن مصرف سورية المركزي، لها سندها القانوني والمالي وتحمي أموال الناس وتحظى بالثقة من قبلهم، بعيداً عن عملات المضاربات الأخرى." (BeinCrypto Arabic, May 30, 2022)
    • Translation: "Issa stressed that talk about digital or encrypted currencies necessarily means a digital currency linked to and issued by the Central Bank of Syria, which has its legal and financial backing, protects people's money, and enjoys their trust, away from other speculative currencies." (BeinCrypto Arabic, May 30, 2022)

  • Regarding the impact of sanctions easing and Binance/Bitget offering services (June 2025):

    • "Binance has launched operations in Syria, following the easing of sanctions by the United States and the European Union... The company said the recent policy changes now allow Syrian users to register and trade." (Finance Magnates, June 12, 2025)
    • "Syrian nationals can now access Binance's crypto services after the exchange removed the country from its list of prohibited jurisdictions. The announcement, made through a June 12 press release, followed US President Donald Trump's decision to suspend sanctions on Syria in May." (Cryptopolitan, June 12, 2025)
    • "أعلنت بيتغيت، منصة تداول العملات المشفرة الرائدة وشركة الويب3، عن تمكين المواطنين السوريين من التسجيل في المنصة. يأتي ذلك بعد التعليق الأخير للعقوبات المفروضة من مكتب مراقبة الأصول الأجنبية (OFAC). يمكن الآن للمواطنين والمقيمين السوريين التسجيل في المنصة، وإكمال عملية التحقق من الهوية، والوصول إلى المجموعة الكاملة من الخدمات..." (Investing.com, June 12, 2025)
    • Translation: "Bitget, the leading cryptocurrency trading platform and Web3 company, announced that Syrian citizens can register on the platform. This comes after the recent suspension of sanctions imposed by the Office of Foreign Assets Control (OFAC). Syrian citizens and residents can now register on the platform, complete the identity verification process, and access the full range of services..." (Investing.com, June 12, 2025)
    • "Syrian users will have access to Binance's full suite of services, including spot trading, peer-to-peer (P2P) exchange, futures trading, and earn programs. All features require completion of Know Your Customer (KYC) checks." (Finance Magnates, June 12, 2025)

  • Regarding proposals for legalization by the Syrian Center for Economic Research (SCER) (Early 2025):

    • "Syria is considering legalizing Bitcoin and digitizing the Syrian pound as part of an ambitious plan to stabilize its war-torn economy and attract global investments. Proposed by the Syrian Center for Economic Research (SCER)..." (FXStreet, January 2, 2025)
    • "The non-governmental Syrian Centre for Economic Research (SCER) proposed a plan that includes the potential issuance of a new "digital pound", which would be supported by the Central Bank of Syria (CBS)... The new government led by Ahmed al-Sharaa has promised to destroy all remnants of the narco-empire of the former regime, but has not yet formally acknowledged the crypto project led by Syrian nationals." (bne IntelliNews, January 5, 2025)
    • "Policy: Syria has a caretaker government until March of next year. Taking an official position on digital assets is not likely to emerge as a top priority in the near-term..." (Chainalysis, December 12, 2024, context implies early 2025 for government response)

  • Regarding the warning from the Syrian Commission on Financial Markets and Securities (SCFMS) (June 2025):

    • "وأكدت الهيئة في بيانها أن القوانين السورية لا تسمح بترخيص أو تنظيم أنشطة تداول الفوركس أو العملات الرقمية المشفرة، وهو ما يجعل أي نشاط من هذا النوع مخالفاً للقانون، ويعرّض القائمين عليه للمساءلة القانونية." (Majallat Al-Mal Al-Suriya, June 17, 2025)
    • Translation: "The Commission confirmed in its statement that Syrian laws do not permit the licensing or regulation of Forex or cryptocurrency trading activities, which makes any such activity a violation of the law and exposes those involved to legal accountability." (Majallat Al-Mal Al-Suriya, June 17, 2025)
    • "وأوضحت الهيئة أن هذه الجهات غير مرخص لها بمزاولة هذا النوع من الأعمال، مشيرةً إلى إن القوانين السورية لا تُجيز ترخيص التداول بالعملات الرقمية." (Ultra Syria, June 17, 2025)
    • Translation: "The Commission clarified that these entities are not licensed to practice this type of business, pointing out that Syrian laws do not permit the licensing of digital currency trading." (Ultra Syria, June 17, 2025)

4. Direct, Accessible URL Links to Sources:

  • FXStreet (January 2, 2025): https://www.fxstreet.com/cryptocurrencies/news/syria-eyes-bitcoin-legalization-to-revive-war-torn-economy-202501020407 (Note: The grounding data shows this link was processed, but the original URL might differ slightly if it was a redirect by the search tool.)
  • Ghost (September 25, 2024): https://ghost.com (Specific article path not fully provided in search results, general domain cited) - A more specific URL from the search result is: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQG2ZXLQOpmBZadft9yI7g80p7IM0Epo8JnLJC5L7_jnWl9gvRiQhUiP03igSlOgc59fxdoMq2qrlx2nSEq7KwTr17QVGrK4ubJP2mRo0IXtj1Vyrl3TgFC3TZOpwXm5LsHU-cUzaPad7SPmVTnph_Jg4FFQuT9L (This is a redirect and might not be a stable direct link to the source article "هل مسموح تداول العملات الرقمية في سوريا؟")
  • Finance Magnates (June 12, 2025): https://www.financemagnates.com/cryptocurrency/syria-opens-to-crypto-as-binance-launches-trading-after-years-of-restrictions/
  • Cryptopolitan (June 12, 2025): https://www.cryptopolitan.com/syrian-nationals-can-now-trade-on-binance/ (Link from search result: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEsWlgGprCQA9RzxOkVPqMAD1xCTVALl2VY8UDMHTyZS67IZErg4zre6nImPhLU3_ClXkPDTTDdwLBU38NjONzKnqawH1LZFD9WDdJnqaBpbEcMMLPZu1Lyh7idXaUfyslVyOfFv-eo6DAGYUaNTHM=)
  • The Currency Analytics (August 28, 2021): https://thecurrencyanalytics.com/bitcoin-and-cryptocurrency-are-not-illegal-or-legal-per-syrian-laws-29656.php
  • Syria TV (May 25, 2022): https://syria.tv/content/1653489600/%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A7%D9%84%D8%B3%D9%88%D8%B1%D9%8A-%D9%84%D8%A7-%D9%8A%D8%B3%D8%AA%D8%A8%D8%B9%D8%AF-%D8%A7%D8%B9%D8%AA%D9%85%D8%A7%D8%AF-%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D8%B1%D9%82%D9%85%D9%8A%D8%A9 (Link from search result: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQENJ6xkbyQkiBrk54xn5ms1BwJimSSqsB093_yA2TuWxacoZfCvvJADvAiRFBgryylXVoY1AqvhdPHNb-Bw9l6fgikBEuN9am5IBicsoCCtGod2zY925_NqnJSxC_wf0IkNguWGJ77tSBwbMWRhckdc0bUfzU3eN-KgWS2z255Xpfw9l7m9wi91XheZ3K4uCTErwictskwkzd8FM5NrNI5h3O7TRm7ZUZ1Vg8V4oXRkIOGze2VazSU413IFWyR7dNbFmgiODN1404P6KfT-kF2miSASDdgXBUYlvZri8ddMag0s-Jax_BU7mrBQJcXWlT53hwKQmWLjzpWThoNh_C5uOXtLlXDBx6w8FIef3MnJNn2A0BmaAFLDecmlzfRhsBuVXn5JsJ6vC5pLHvJWadWl4CJ8RKmXv5Tkq-sk7cQwCc0brG87rFsd7ZH24w==)
  • Al Hadath (June 12, 2025): https://www.alhadath.net/news/articles/2025/06/12/منصة-بينانس-تتيح-تداول-العملات-المشفرة-للسوريين-بعد-رفع-عقوبات-أميركية (Link from search result: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHiPy3q-WBRp-tC8_O955U_kvXPaYKralOQINKD26kUXPtOVE7ZCH8lCIKzsSLDOVY2gNNEZ6IDxL5w0vO0Q2qdw_7mFiTKdjz6ncprOuFms5JJMHL9Z27gkh4tw00wYp1hgd4ftHMyNJYH0TfGzFZjM4rhemaRtXkh9vzBP8Vs1mLGBVucsz0MjbAToN4Ez0Logp5BxpPXxhcFt84EW0DJcEDIN6J2JD1E9h67HzVMop3v9JNXj9j1jFLKwyyEuREEGpi3czHqPcLMtgu_1Io-iCNxpSobjFg6z2nG1qcJiTaw1goz9nZh6btOFaoDvymBne67wssStUltRS7SEvV_yduPwe4PeFLW3TQ6aDBs013_JPw0rwzMiEJvmFqqYci4qVIpBmlACIz3onUQE8h8SR-oj1OpYzTsIwDsOv8f7Xksv08Xg_At_BsbetkBLdMu8iS1_wDuk6QW14urB8Ab-BIKSrGrtp4pfSd68WnNYXfAqfYCHkOZvSODYRBMpD5-q-HZdT_7FhnT743Lg4jp3FVOmwmqtCOvUqqY2CpAtySdljebVIdzFrfRungmJXlIUeu1Ljva1lSdRmRvcdTWxat_902k4_8PqBs0N6ZP34EDHnSCFaM=)
  • Al Jazeera Net (January 4, 2025): https://www.aljazeera.net/ebusiness/2025/1/4/سوريا-تعتزم-تقنين-البيتكوين-وإصدار (Link from search result: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGoVXrqR8mzUalTVUbAWf-l_bCTzJyhnctiN3Vu1swvqN2VN2AAQ2xAK7W0VZ7_JNK5u3O_3s8bvw56W9xVSuRxxUf2TkOg3BY7xgUaO3LaSvA2ClQjJOwzwoWYMj0ExZtCSDqqCSS9-YJbMpm3YDy5Y-p-WestqJNwcntx8gldF6CqbGvqaSCUO4CatwyPALurOTvRwb7c6sXSDv4HJap7EFP7BuJOCEw0viZbOmuucjk5e7pav4BEjh0d2aFRADI0JoyyPXLF0qviL9aOvRfZ)
  • BeinCrypto Arabic (May 30, 2022): https://beincrypto.com/ar/المركزي-السوري-إقرار-العملات-المشفرة/ (Link from search result: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQF8o4s5vyfaBk_8jIDeLfUqr2JmmaSSrO6lDGtm7280KC6TNYK-s4z4il8URXi8QcUUXfvE5WnrTRe8Y_oTPrzo4ND35GVd-9vJspHu7HkMAtEuRuoi-rsk2mMNGz5m63EKxLCyBSAjCTV0umvmHbrelZbHEVM6WN9RU_QC-5QiZ7SQbs9VI_L8aQhziA-XsesXrfnxkDuX_mnkszZAKxbk4lUz7-WcT2BrVccc0p4e-VPVKDIBtrSfuJzVAEXxPnlD-WUeLqf3Gk5ayJiBKh5iPe5cXHPerq7HkDn1MbwGj9b5D6gFfBVN3kFfqIF4tyEhEwwmTgdXgQ9b3Tmqw5Pgbeh8eYuPg5WowgnsJxHQOkjzFfy23qNSOex7)
  • TradingView News (citing Finance Magnates) (June 12, 2025): https://www.tradingview.com/news/FinancialMagnates:a02105709094g:0-syria-opens-to-crypto-as-binance-launches-trading-after-years-of-restrictions/
  • The Economic Times (June 12, 2025): https://economictimes.indiatimes.com/tech/technology/crypto-exchange-binance-opens-trading-to-syrians-after-us-lifts-sanctions/articleshow/110957090.cms
  • Proelium Law LLP (Accessed June 2025, content may be older): https://www.proeliumlaw.com/insights/cryptocurrency-regulation-tracker/
  • Majallat Al-Mal Al-Suriya (Syrian Finance Magazine) (June 17, 2025): https://www.syrianmal.com/2025/06/17/تداول-العملات-الرقمية-في-سوريا-نشاط-غ/ (Link from search result: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEPon526MejCDM1hyG90gDdUNaxJKXY3wof6nwehjaqnl66s_tjsez8AYEpx3gLjFj7jSzb-iwx1_H_yvZ6Y0OimUB9XbI6NLhTndeoo8BxNNkEuH-6WBi672LDW4TwFD6Wug2kIhs_FDSA5MxtlL-7cjsBSj1r80uKUl3CwHVQKHtavioK4BjLQhaJ-xLMjg2AioQdk3L_fkjEFT_q7RfKTWsr0BkOb1jnfYXoL3w5xhW3ivPZ-w3Yp-E3l4Yk8-vSRZE22fQrePFreidiLjkaOjRT6J2KjmrUWLpe1XX4L3S-y05BQKOd1Iw_aRxbmJVBuaopEoJ6RNiE-JmnPx4SM959Q5oR4XZTSFQgZcjqFnvo-kx2jInlmSLDioRvjr8BfKeI)
  • The Crypto Times (June 12, 2025): https://www.cryptotimes.io/syria-removed-from-binance-ban-list-after-sanctions-shift/
  • Investing.com (June 12, 2025): https://sa.investing.com/news/cryptocurrency-news/article-2480307
  • Ultra Syria (June 17, 2025): https://ultrasyria.ultrasawt.com/منوعات/هيئة-الأوراق-والأسواق-المالية-تحذّر-من-التداول-بالعملات-الرقمية/مجدولين-حسين/تحقيقات-وتقارير (Link from search result: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQE21WyJWyTK5DrSej1DKDsdrvF-WwFW7fBBGt4yvge36DdKBAjaAxB6qrdypMycOjO5kLLala3X7P-iIEwzH1xLa-d_HPvGSQFAYcpeVjghH1Yu1-rESYdjUnjHU3qn3LQRxOaP2oKFPyrUsDUVeqfF91b_5fXffbeLAEMD6z0o8z-hxbAkX16li8Gsxt-J_4WDrDY-GnPvpUuoNtmjtpy-Ypzx4Xhjyijtu5GdysC0E_Buaup5gj9kfkY2PAi_2kxsdfhGT83IlNbTQqORFIGgZekEETcP9oP_iHQS9_r3S9bJkVJr7FtaVYozDDjZ5ffdoeZQnjHu8KC56DXzB4pJXLJlx5d5lAPdDf2yPOVtTpn2XG71R3a4alxf03gOnpaXUD9UIAVAe9WTk6i6Pzduu04O2RPdEwJjbqBiZMKLV6jRNxz3Xseo4TSuwVbceGRAJMkYb1xE-AZDhvddky22YyJGSnBcf274OkyXyNlzGngqEgXF6LGy3NGv2UkB78mYpfi54H1xpj5E8nFhT5avyhPDxgYjSq9Xdy9l3IoaMHAr8IwSOz1fCc0pO49bqjNytQZA9I8WvP9Ooti9o0wL7keOmKgt_QxILCudIaLgFQWeu3QTxi-4unzYLCc0Aa8JVheC9fwGODTZ0xEXkQH8kfw4EztRAPjL2Qru0lH0r0r2LIbysF3v5VyJBIa0vW-160s5ZRqs)
  • Chainalysis (December 12, 2024): https://www.chainalysis.com/blog/crypto-syria-war-recent-events/
  • Sputnik Arabic (June 3, 2022): https://arabic.sputniknews.com/20220603/خفايا-علاقة-السوريين-بالعملات-الرقمية-المشفرة-1063008421.html (Link from search result: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFMev2nVHs0cbIWG004lRJ03mauCIOpRlkHiUYpHH5jTIYLC3LqGqwoSXxnA78OvWq-S0YKCKoqyZnxKmV_F25alWtWdwufYfuCUozUnvQw7kJbDDtU7vr84fPFN_xOd4pzHxd839-remLTkexK7S5CMCqeRpBU3rsealJx0BQl8bRwB0ew6UUNQepeAshM7hPf70_6rXHNheG_FkDaM_ups8kQslmkiWM256hLKQjWSAlMmQqZTTuMneSHy3WjI50pPdBCy6eu-s93VI4shUZ_WZXybea7pMyyvgEgZKRgERPFtZH5pEO86tY6nTmD-0ZEkI7hRRTlCRfTMpSFUmVjYu08GS9BNNjy0Hp1dCXOWqFVaBSWqK39Y6DARj0uoJm3kWXD2eX1E-YiFKe919ygpZO57oSW1sc5pnJQfao6QpZyh17PbzjGXLnbnctHsVHbUXRLgwq6hecP3g=)
  • bne IntelliNews (January 5, 2025): https://www.intellinews.com/syrian-think-tank-plans-new-crypto-backed-pound-306910/
  • El Dorado P2P (Undated, context suggests early 2025): https://www.eldorado.io/en/blog/bitcoin-and-digital-currency-resurrect-syrias-economy
  • ResearchGate (AN INVESTIGATION FOR A LEGAL FRAMEWORK GOVERNING CRYPTOCURRENCIES UNDER THE SYRIAN LEGISLATION: AN ANALYTICAL STUDY) (June 14, 2020): https://www.researchgate.net/publication/342109819_AN_INVESTIGATION_FOR_A_LEGAL_FRAMEWORK_GOVERNING_CRYPTOCURRENCIES_UNDER_THE_SYRIAN_LEGISLATION_AN_ANALYTICAL_STUDY
  • DeFi Planet (June 12, 2025): https://defiplnt.com/binance-resumes-crypto-services-in-syria-following-eased-u-s-sanctions/ (Link from search result: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFphNNgnD931vDMgBci-RgbYWtl5EwJKLphLSH9UhUupSXGdaW8_JjqeR30hSBCVh_bFVvLcH7GY0hU6nf1QjPauGORhw79ROdMyqvjda4y00fGFmfGNInCN0gCkwt4kv1R-Ri2CU3YjI80haXXT7S805-B0a73ifnYk795Jhcq54lrxNRqRVP_E6wRBXe1k_SJDgaLkWZcirdPoaakH9KorA==)
  • WION (YouTube) (January 3, 2025): https://www.youtube.com/watch?v=your_video_id (Actual YouTube video ID not provided, general channel information was in search result) - A more specific URL from the search result is: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEcXRtI6h7YqGdLPkZSs3_a_QOSlfouzwod7cmRCYyuXx8f72n5RNT382c3DYXIDWLz7tLHPbjlx3vxawmClurziyhOOdBmCzbMH7x1ezo-lXOkVElDe-V0fmp_G6HjzvuLxopIQw== (This is a redirect to a WION video titled "Syria Eyes Bitcoin To Revive Economy")
  • Mitrade (January 1, 2025): https://www.mitrade.com/news/syria-proposes-bitcoin-legalization-to-rebuild-war-torn-economy
  • Ghost (September 20, 2024): https://ghost.com (Specific article path not fully provided in search results, general domain cited) - A more specific URL from the search result is: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEyOwjn9Ifs5pH2_CNYzRzBMARqvP1tKX1Y3-7diRgOqHGEJyWEsTfbD9I9jXpw6WF_KOYih3IXShrjWi9AJdVC8QqenwwArhELZsSjiz30085MO62YVskuP8OfBnVObgaEPAF9m9Hb3A== (This is a redirect and might not be a stable direct link to the source article "العملات الرقمية في سوريا")
  • AInvest (June 19, 2025): https://www.ainvest.com/news/binance-launches-crypto-services-in-syria-post-sanctions-lift-01HGESF8J7X4Z5P5G2Q8Y4R0W7/
  • Ghost (September 26, 2024): https://ghost.com (Specific article path not fully provided in search results, general domain cited) - A more specific URL from the search result is: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGvV3OK-WB7Q3KKY4v7ZDXwRG1BnWdCEhPjtvrt6wvpxgHCjpIRiX7WLAtz__-F6boOb7PtZb9388NST6mQdBys3wDZa7nC05eDvMdCIT79-GGhxuPAw5D9MkA7j7JmExW9pGE= (This is a redirect and might not be a stable direct link to the source article "الكريبتو في سوريا - العملات الرقمية")
  • MEXC Blog (June 5, 2025): https://blog.mexc.com/crypto-in-syria-2025-a-digital-lifeline-amid-economic-ruin/
  • Enab Baladi (April 13, 2025): https://enabbaladi.net/archives/2025/04/العملات-الرقمية-في-سوريا-فرص-استثمار.html (Link from search result: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQH-MAsleBpW22J6sjI5VSyEelqEJ0UVQjC0JwBynsQp9NfZpaK0V-CQdsXRH4o7lQ0HB13C_v22Lm__VourvxVah2ZUbsgtuPm-DKenMBO9IOUqYlg8i6t0X5RI0dkH0oTSgJUDxpPofCDBxirXWSU6ZAsu9_j7pEIbcf5NK0mzb26uat47r6_KQCxUAsCNU6bbJxyuj7p1BdhCfoaAvg0qgOMU7UlEPc4zKqbIxRTCgMOhxeUuWS_yR5XNcwxsyhacWKKe2YO_VX3sAasoj7oex_PFDi9cAIz4iCMhhM4bWpoPH4w-bNo_o8zn25pjX34FEsLdjBHdyS9DwiDcHVpHfMm1962MQxJyF_b0PcnTNkHmFBVEAs9DbL5aTZVqalonD9tX5NHca_TijPSdOfZlrvJ0zVM_Q5T81aJSexEBs9kMtjiSSmsN06FjqqyzxR-YiF0Z6HE6_Ku5xDM3buYuGZWt_fL1UJjsOFdFxTyxmdO_COl0WZkwnEB7qGrmY9D5K53Gasdzwi1tLfx73zZLw-pwbj2BGLNyUOUbq70G-LCrIHjEcqVCjsF1HrJVHCc-D_Un1-0v3_CN-cyW7abbd71y0A==)
  • Al-Araby Al-Jadeed (June 12, 2025): https://www.alaraby.co.uk/economy/بينانس-ترفع-حظر-سورية-وتفتح-أبواب-الاقتصاد-الرقمي-للملايين (Link from search result: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHHNlqp7rWtrM0_WOqr5qiu8agS31MKtIah7ONk_qU49qTeS4ApNdUEM6ZB4hdpF26jUIGnnklb9Hrsdbdr1xztfto3g_1wqjsoNviNBjdcWFDIQRks6ZoeFjoxJ7-I16m_MAk-axDnOG8XiSymHoieK0S7RJzYeAj6ughiPYhZBbfImU75xFAVvpR84KYuTEeZmFOaVUx4iRwaFvlWtARLFcFJtjUqe9VdwNxJo-dcgP_DUw5bZ9EOCb1AW9b6DJHT9VLTjPqr_sHZD1a1pOTQo2sIqBaFK0OkwNwrDFgmfLWV8z4YtulKkGejjt2YxNkJQjKmWiI9MEEZKd9P-VFeH4QWssvNv929tiNyjZkZ1XuH-DvivEsbcgtY28Q37bVf3bkbGpFpLpsmx53-yRMpWsDF-cgDl0IKEeizWjgNyHjJLpNKxXY0uwm8dLG7DH7XyhTkEbBDy7ZKojzy6DG_ulAmrKH_8t3bSPWiR0EtIsIpw3XJXlaai9YcNZR9Mxx-W1VeNGiy-XBMTVv7SKLbVg==)
  • Independent Arabia (June 13, 2021): https://www.independentarabia.com/node/223436/اقتصاد/هل-يقبل-السوريون-على-العملات-الرقمية-المشفرة (Link from search result: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGbaPPtzDWGYLm97X8cIlbyz9HQzmX-zv47UsCFnI__qZZefcN37dXbBB7tLtPwqkZs49n1m2D77KUNYl-61RnHmeOj-X1aoWcQYE9ycZcCsJ3O-cCN43wnA-1uhBG6yhE3Xg3nrdrgQuxl4MZe5QlYdUkJHisqfXqgsV2RGnA-MABW9Danf30cK9PZB6Lu9mJ6cq6s_4msAWU4NH1UvK6ebxTVcTYvhyl2NaaTNmB3knfj7_x1TIU8Fh2vmeH8XtBP06vmhHuyHzBWGB6eYMxphwOEhoFZ_7MYSm6uGFhnepUsIc57oAiJvbh4sj1t9np1svxhG-n3Ek06OqlfENrtO8netYH9KV0N-uLkmdABVgoKDhyTNLCU31nndqqiQZ3macA8MNNtjYotD1xmbQhzRuE_kEhv8Mrw0fnGP9WU48mVViCT3KdBTQ_9wYlX8dLvbRviSt59RP5shZ7xgQor_YuKXkFMufpO0l5r8tFrkPfJicFMLZDJ6rC7L-NqB04hzwFo6daMTN_QsuIOrhRtt0GiLo_-OJr58C8wFo4MVxvwTUIQmEELzxrBFxFOZf4pR2nCxg2cBcQICxw=)

Web Sources (34)

Sources discovered via web search grounding

Search queries used (9)
  • Retail cryptocurrency trading status Syria 2025
  • Syria cryptocurrency laws and regulations for individuals
  • Is cryptocurrency trading legal in Syria for citizens?
  • Syrian Central Bank cryptocurrency stance
  • Official statements Syria cryptocurrency
  • قوانين تداول العملات الرقمية في سوريا للأفراد
  • وضع تداول العملات المشفرة في سوريا للمواطنين
  • البنك المركزي السوري والعملات المشفرة
  • بيانات رسمية سورية حول العملات الرقمية
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