Binance Expands to Syria Following U.S. Sanctions Removal

Highlights:

• Binance reopens services in Syria after U.S. sanctions lift, enabling crypto trading.
• Syrian users can now fully access all Binance services, including futures trading and staking options.
• Syria explores Bitcoin legalization amid economic struggles and rising crypto interest.

Binance has become one of the first major crypto platforms to reenter the Syrian market after U.S. and EU sanctions were eased in May. On Thursday, the exchange confirmed that residents in Syria can now use its services to trade cryptocurrencies like Bitcoin and other digital assets.

Exciting news for our Syrian-based community: You can now join Binance!

We believe financial freedom should be accessible to everyone. And now, with US sanctions lifted, we’re excited to announce that Syrian residents can finally join our 270 M+ global users shaping the future… pic.twitter.com/Kq7TVKCK3F

— Binance MENA (@BinanceArabic) June 12, 2025

Binance Unlocks Full Features for Syria After Years of Restrictions

Binance shared that people in Syria had been left out of the growing crypto space for years, not because they chose to, but due to the situation. Now, with access restored, Syrians can join over 270 million Binance users and safely take part in crypto trading. Last month, the U.S. administration under President Donald Trump unexpectedly announced the removal of sanctions on Syria. This came after a new Islamist-led government took control, replacing former leader Bashar al-Assad in December. According to Trump, the decision was made following a request from Saudi Arabia, a key supporter of lifting the restrictions.

Binance said with the recent easing of restrictions, Syria is no longer listed as a prohibited country under the platform’s terms, allowing access once again. People in Syria now have full access to all its features, including spot and futures trading, staking, earning options, and Binance Pay. 

Binance MENA shared on X that users need to complete the Know Your Customer (KYC) process before gaining access to these features. The exchange also plans to help Syrian users through educational programs and hands-on support to better understand and use these services. These new services are part of Binance’s wider push to make regulated financial tools more accessible to people in Syria. The exchange shared that it aims to offer a smooth, safe, and rewarding experience, expressing its excitement in welcoming Syrian users. 

Syria’s Economic Collapse Fuels Crypto Interest

According to World Bank estimates, Syria’s economy has declined by more than 60% since 2010. The Syrian pound, once considered stable, has lost over 99% of its value during this time. Binance noted that ongoing inflation and financial instability likely pushed many Syrians to depend on remittances and unreliable local currency, which may explain the country’s strong interest in crypto. By 2021, Syria had become one of the top ten countries worldwide for cryptocurrency-related search activity.

The exchange stated:

“We’re proud to offer real solutions that support Syria’s economic recovery and help grow its digital economy, in line with international efforts and applicable regulations.” 

Back in December, Syria revealed plans to possibly legalize BTC as part of efforts to revive its struggling economy. The government is working on creating clear rules for Bitcoin use, covering buying, selling, trading, and mining in line with both global and local standards.

The Syrian Center for Economic Research publishes a proposal for the transitional government to legislate #Bitcoin in Syria and digitize the Lira pic.twitter.com/dEm8gwfzdP

— Bam باسم (@bamskki) December 31, 2024