Syrian NGO Proposes Bitcoin Banking System to Boost Reconstruction Efforts

On January 2nd, COINOTAG News reported that a Syrian NGO has proposed a significant shift towards digital finance. The Syrian Center for Economic Research (SCER) urges the new government to establish a banking framework that leverages the Bitcoin network and associated technologies. This initiative, termed the “Bitcoin Policy in Syria,” aims to bolster reconstruction initiatives while shielding citizens from rampant inflation and ongoing currency devaluation.

The recent appointment of Ahmed al-Sharaa as the de facto president has elevated the urgency for this proposal, particularly as al-Sharaa seeks international validation to unlock much-needed reconstruction financing. SCER emphasizes the necessity for the government to navigate multifaceted challenges, including international sanctions, technological barriers, and legacy debts, all while avoiding reliance on high-interest loans and inflationary tactics. Central to this proposal is the safeguarding of citizens’ rights to self-custody of digital assets, which aligns with contemporary financial sovereignty trends.