Syria Transitional Government Considers Legalizing Bitcoin as Part of Economic Recovery Plan
Summary
- The Syria Transitional Government is reportedly considering the legalization of Bitcoin for economic recovery.
- The introduction of Bitcoin is said to help alleviate inflation and attract global investment.
- It was suggested as a way to address the lack of trust in existing banks and overcome the obstacles of international sanctions.
The Syria Transitional Government, which is leading the reconstruction of Syria after the collapse of the Assad regime, is considering the legalization of Bitcoin (BTC).
According to a report by Cryptopolitan on the 1st (local time), the Syria Economic Research Center proposed a plan urging the transitional government to introduce Bitcoin and other digital assets to alleviate inflation, stabilize the economy, and attract global investment.
The Syria Economic Research Center stated in the proposal, "If the Central Bank legalizes and supervises Bitcoin, it can operate within a safe and responsible framework. It could completely transform the Syrian financial sector, where trust in existing banks has been eroded due to inflation and devaluation."
Currently, Syria faces numerous obstacles, including international sanctions, and it is expected that by leveraging Bitcoin's decentralized nature, a breakthrough could be found to manage capital by bypassing the traditional financial system.
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