On June 12, Binance officially launched its platform in Syria following the US and European Union decisions to remove economic restrictions in the country.
On May 23, US Secretary of State Marco Rubio announced the end of American sanctions on Syria. The EU followed with its own decision to lift its restrictions.
With those changes in place, Binance
$8.55B
updated its terms of use to reflect that Syria is no longer considered a restricted location.
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People in Syria can sign up and use Binance to trade over 300 digital assets, including Bitcoin
The platform offers a range of services, including regular crypto trading, peer-to-peer transactions, futures contracts, and earning programs. However, all users must first go through Binance’s Know Your Customer (KYC) process to verify their identity.
In a statement posted on X, Binance’s Middle East and North Africa (MENA) branch stated that these services would only be available to verified users. This step helps ensure safety and follows global rules meant to prevent fraud and misuse.
Additionally, Binance also introduced Binance Pay to Syrian users. This feature enables fast and simple cross-border payments, which can benefit many families that rely on money sent from relatives abroad. The platform has also added educational materials in Arabic to support new users.
On May 29, Binance and the US Securities and Exchange Commission (SEC) jointly asked a federal court to permanently dismiss the lawsuit. What did Binance say about it? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
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