Syrian Nationals Gain Binance Access as US and EU Lift Sanctions

• The introduction of Binance in Syria comes with a complete access launch, permitting Syrians to trade around 300 tokens.
• The prominent leaders of Syria are targeting to make quick progress in improving public services. 

Binance will now offer Syrian nationals to trade in cryptocurrencies following the easing of the United States and European Union sanctions last month. The natives of Syria can now leverage the platform to trade assets such as Bitcoin, as per the firm’s announcement on June 12. 

The decision of the launch comes after the decision of US Secretary of State Marco Rubio on May 23 to remove sanctions on the country. The decision was taken after the EU lifted all economic restrictions on the nation. 

The announcement of the largest exchange added that in compliance with the previous sanctions, platforms such as Binance did not serve users in the country. Now, as the country is not classified as a restricted country under its terms of use, with the newest sanctions removal. 

Great Opportunity For Syrian Traders 

The introduction of Binance in Syria comes with a complete access launch, permitting Syrians to trade around 300 tokens, including Bitcoin, XRP, Dogecoin, Shiba Inu, Toncoin, and Bitcoin Cash. 

The team also mentioned that the Syrian pound could now be used to purchase and sell cryptocurrencies on the exchange. 

Overall service consisting of spot trading, peer-to-peer (P2P) exchange, futures trading, and earn programs is only accessible after customers complete their KYC, as highlighted by Binance MENA on a social media platform, X. 

Adding more to this, the users of Syria can use Binance Pay for seamless cross-border remittances and get access to customized educational content in Arabic. As per the data from the International Monetary Fund, Syria had a population of 21.4 million in 2010, with having estimated GDP per capita of $2,810. 

According to data, around 13 million people of Syrian descent lived outside the country as of 2016.  The prominent leaders of Syria are targeting to make quick progress in improving public services, including internet connectivity in the country. 

The decision has been made after 14 years of civil war and decades of Western sanctions. 

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