The Syrian Center for Economic Research has proposed that the country's new transitional government legalize Bitcoin and issue a central bank digital currency.
The center's representatives believe that the situation in Syria after the collapse of the previous regime requires finding innovative solutions to accelerate reconstruction, ensure market freedom, protect citizens from inflation and devaluation of the national currency, protect private property and create a modern regulatory framework to attract business and capital to the country.
In their opinion, it is necessary to support the local economy as quickly as possible, and for this purpose, the tokenization of the Syrian pound, the legalization of cryptocurrency mining, and the provision of tax breaks to companies are needed.
In addition, experts propose to ensure the rights of citizens to independently store cryptocurrencies and simplify the provision of financial services in this industry for them and businesses.
According to analysts, the above measures will make it possible to ensure not only financial stability in Syria in a short period of time, but also to speed up the restoration of the state, which has been destroyed by a long-term civil conflict.
It should be noted that, according to the World Bank and other financial institutions, the Syrian economy has shrunk by more than 60% since 2010 and its restoration will require multi-billion dollar investments and assistance from the international community.
