Binance Reopens Access to Syrian Users After US Sanctions Shift

Binance, the top cryptocurrency exchange in terms of trading volume, has made an eye-catching announcement. As per Binance, it is opening access for the people living in Syria as the U.S. authorities have lifted the sanctions. The platform announced this groundbreaking move in its recent press release.

Binance Permits Syrian People to Leverage Crypto Services as U.S. Lifts Sanctions

For several years, people living in Syria experienced exclusion from worldwide digital asset landscape. The key reason behind this deprivation was the sanctions as well as the compliance requirements. Despite Syria’s considerable position among the top ten jurisdictions in crypto-linked search activity, its people were given just limited options. However, at present, the United States has suspended the sanctions implemented on Syrian residents. This has pushed Binance to let these people utilize its services.

With suspensions now lifted, Syrian people are not deemed to be living in a prohibited jurisdiction based on Binance’s Terms of Use. Hence, these people have the eligibility to create accounts, carry out trade, as well as engage with over three hundred listed crypto assets. The popular among them take into account Bitcoin ($BTC), Ripple ($XRP), Binance Coin ($BNB), Shiba Inu ($SHIB), Dogecoin ($DOGE), Bitcoin Cash ($BCH), and TONCOIN ($TON). Apart from futures and spot trading, Syrians are also permitted to leverage the Earn and Staking products, Binance Pay, and stablecoins.

Driving Financial Freedom and Economic Empowerment

According to Binance, this development underscores a meaningful move to boost economic inclusion as well as digital asset access. In this respect, the crypto exchange has promised to contribute in Syria’s recovery efforts and future advancement. Keeping this in view, as Binance is now accessible in Syria, the community living in the jurisdiction can ultimately utilize blockchain-based instruments for financial freedom and economic empowerment.