(Reuters) -Binance will allow users in Syria to trade in cryptocurrencies, including bitcoin, on the platform following the United States’ decision to lift sanctions on the country last month, the company said on Thursday. Binance, the world’s largest cryptocurrency exchange, said that Syrians will be granted full access to its offerings, which include more than […]
Science
Crypto exchange Binance opens trading to Syrians after U.S. lifts sanctions
Audio By Carbonatix
(Reuters) -Binance will allow users in Syria to trade in cryptocurrencies, including bitcoin, on the platform following the United States’ decision to lift sanctions on the country last month, the company said on Thursday.
Binance, the world’s largest cryptocurrency exchange, said that Syrians will be granted full access to its offerings, which include more than 300 cryptocurrency tokens and stablecoins.
The group added that the Syrian pound could now be used to buy and sell cryptocurrencies on the exchange.
U.S. President Donald Trump’s administration made a surprise announcement last month on lifting sanctions against Syria, where an Islamist-led government took power after overthrowing former leader Bashar al-Assad in December.
Trump said he took the decision at the behest of Saudi Arabia, which was a leading advocate for removing the sanctions.
Syria’s new leaders are aiming to make rapid progress in improving public services, including internet connectivity, in the country after 14 years of civil war and decades of Western sanctions.
(Reporting by Shubham Kalia and Devika Nair in BengaluruEditing by Tomasz Janowski and Joe Bavier)