Syria Opens to Crypto as Binance Launches Trading After Years of Restrictions

Binance has launched operations in Syria, following the easing of sanctions by the United States and the European Union. The crypto exchange made the announcement today (Thursday).

Previously, Binance restricted access in Syria. The company said the recent policy changes now allow Syrian users to register and trade.

“In compliance with applicable sanctions, platforms like Binance previously did not serve users in Syria,” the company stated.

Major Crypto Access Begins in Syria

This move makes Binance one of the first major crypto platforms to enter the Syrian market. Residents can now trade digital assets, including Bitcoin and XRP.

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

Syrian users will have access to Binance’s full suite of services, including spot trading, peer-to-peer (P2P) exchange, futures trading, and earn programs. All features require completion of Know Your Customer (KYC) checks.

You may find it interesting at FinanceMagnates.com: Binance Launches Live Trading on Binance Square for Real-Time Crypto Deals.

Binance Signs Kyrgyzstan Partnership Following SEC Case Dismissal

In recent developments, Binance signed a Memorandum of Understanding with Kyrgyzstan’s National Agency for Investments to support the country’s digital asset sector. This partnership, endorsed by President Sadyr Japarov, aims to introduce crypto payments through Binance Pay and enhance blockchain education via Binance Academy.

Separately, the US Securities and Exchange Commission voluntarily dismissed its 2023 lawsuit against Binance and founder Changpeng Zhao, which involved allegations of inflated trading volumes and misuse of customer funds.

The dismissal was made with prejudice, preventing future claims, and follows Binance’s prior settlements with the Department of Justice and Commodity Futures Trading Commission. The SEC noted the decision reflects policy discretion rather than a change in overall crypto regulation stance.