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Bitcoin was proposed to the new administration in Syria, which entered the reconstruction process after the fall of the Assad regime. In order to overcome economic difficulties, restore stability to the country and bring back foreign investment, the Syrian Economic Research Center suggested to the administration that Bitcoin and cryptocurrencies should be legalized as soon as possible.
The institute’s report on the subject also emphasized that Syria must adapt to the digital world for a strong economy. It said that e-commerce and cross-border digital payments will become easier, especially with the creation of strong infrastructure.
CBDC is backed by bitcoin, gold and dollar…
While it was also recommended that Syria issue a digital state currency, the currency should be backed by bitcoin, gold or the US dollar. It has also been proposed that “individual storage rights” be issued so that citizens can store their digital assets for privacy and security.
The report also states that Bitcoin mining can be done from the country’s energy resources.
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