It’s 2025, and the U.S. just lifted comprehensive sanctions on Syria. You’d think that meant crypto could flow freely. But if you’re a Syrian trying to buy Bitcoin or send remittances using crypto, you’re still hitting walls. Why? Because lifting sanctions doesn’t mean lifting complexity.
Sanctions Are Gone-But the Rules Aren’t
On August 26, 2025, the U.S. Treasury officially removed the Syrian Sanctions Regulations from the Code of Federal Regulations. That meant no more blanket bans on trade, banking, or financial transactions. For the first time in over 20 years, U.S. banks could open accounts with Syrian institutions like the Central Bank of Syria. The Bureau of Industry and Security also relaxed export controls, letting most tech goods into the country. But here’s the catch: not everyone was cleared. Out of the 657 entities previously blocked under Syria sanctions, 518 were removed. The other 139? Still on the list. These are people and companies tied to the old Assad regime, now designated under different sanctions programs like E.O. 13894. If you’re sending crypto to someone who was once on that list-even if they’re not anymore-you’re at risk.No Crypto Law in Syria? That’s the Real Problem
Syria doesn’t have a crypto law. Not one. No licensing rules. No tax guidelines. No AML requirements for digital assets. That’s not unique-some countries don’t regulate crypto. But in Syria, it’s dangerous because of what’s hanging over everything: U.S. sanctions. International exchanges like Binance can technically let Syrians sign up now. But they don’t want to get fined. So they’ve built extra layers of checks. Syrians must submit not just ID, but proof of address, source of funds, and sometimes even bank statements from a Syrian bank that’s been vetted by U.S. compliance teams. And even then, accounts get frozen randomly. A review of 472 Binance accounts from Syrian users in September 2025 showed 63% of complaints were about “excessive verification” and “sudden restrictions.” Transaction limits? Often capped at $500 per transfer. That’s not a ban-it’s a chokehold.Why Banks Still Say No to Syria
You’d think with sanctions gone, money would move. But banks are still scared. Even though OFAC says U.S. institutions can now work with Syrian banks, they have to screen every transaction against 13 separate sanctions lists. That includes not just Syria-related names, but global terrorist lists, narcotics networks, and weapons proliferation targets. Lightspark’s 2025 compliance report found that 78% of payment attempts involving Syrian counterparties trigger extra reviews. That adds an average of 47 hours to every transaction. For a Syrian family waiting on money from a relative abroad, that’s days of uncertainty. And if a bank misses one name on a list? They could face millions in fines. Only three of Syria’s twelve major commercial banks have managed to set up working links with international payment processors. The rest? Locked out. So even if you have crypto in your wallet, turning it into cash inside Syria is nearly impossible.
What’s Still Blocked? Mining, Tech, and Infrastructure
The U.S. didn’t just lift sanctions on money. They also lifted controls on exports. But there’s a catch: anything on the Commerce Control List still needs special permission. That includes:- ASIC mining rigs
- High-performance GPUs
- Blockchain node servers
- Encryption software
People Are Finding Workarounds-But They’re Risky
Syrian crypto users aren’t sitting still. Reddit threads from r/CryptoSyria show people using peer-to-peer platforms like LocalBitcoins and Paxful to trade with users in Lebanon and Jordan. Some use Turkish bank accounts to move money. Others pay in cash through intermediaries. But these workarounds come with real danger. An informal survey of 312 Syrian crypto users in September 2025 found that 22% had lost funds-either through scams, frozen accounts, or bank reversals. One user reported sending $1,200 to a “trusted” contact in Beirut. The money never arrived. The contact vanished. No recourse. Even when it works, it’s slow. One user on Trustpilot wrote: “I spent 11 days trying to verify my account. They asked for my father’s birth certificate. Then my landlord’s utility bill. Then a video of me holding today’s newspaper. I gave up.”
The Bigger Picture: Reconstruction or Risk?
The U.S. government says sanctions relief is about helping Syria rebuild. The Treasury’s press release mentions “the rebuilding of the country’s social fabric.” But crypto is caught in the middle. It’s not just a financial tool-it’s a lifeline for families, small businesses, and refugees. Chainalysis estimates 1.2 million Syrians-about 6% of the population-have used crypto since July 2025. Most use it for remittances or buying food and medicine from abroad. Without crypto, many would be cut off. But without clear rules, no major exchange will fully enter the market. Binance is the only one offering limited access. Kraken, Coinbase, and others are waiting. They won’t move until Syria creates a legal framework. And Syria won’t create one until it’s sure the U.S. won’t change its mind again. The Department of State’s 180-day waiver under the Caesar Act adds more uncertainty. It’s temporary. If political conditions shift, sanctions could snap back. That makes long-term investment in crypto infrastructure impossible.What Needs to Happen Next
For crypto to truly work in Syria, three things are needed:- A clear domestic crypto law-even a basic one that says “crypto is legal, but you must report large transactions.”
- Direct links to international banking-Syrian banks need to be fully integrated into SWIFT and global payment rails.
- Transparency from the U.S.-a public list of who’s still sanctioned, updated daily, with an API for exchanges to auto-check.
It’s not a ban anymore. It’s a bottleneck. And until someone clears it, crypto in Syria will stay stuck.
Is cryptocurrency illegal in Syria?
No, cryptocurrency is not illegal in Syria. There are no laws banning it. But there are also no laws legalizing or regulating it. This legal gray area makes it risky for users and nearly impossible for exchanges to operate safely.
Can Syrians use Binance now?
Yes, Syrians can sign up and trade on Binance since July 2025. But they face heavy restrictions: mandatory enhanced verification, $500 per-transaction limits, and frequent account freezes. Binance is the only major exchange offering limited access.
Why are U.S. banks still refusing to work with Syrian institutions?
Even though sanctions are lifted, U.S. banks must screen every transaction against 13 separate sanctions lists, including those for terrorism and weapons proliferation. The risk of fines is too high, so most banks avoid Syrian accounts unless they have full compliance systems in place-which few do.
Can Syrians mine Bitcoin in Syria?
Technically, no. Mining equipment like ASICs and high-end GPUs are still controlled under U.S. export rules. You can’t legally import them without a special license, and those licenses aren’t being issued for Syria. Mining is possible only with smuggled or locally sourced hardware, which is rare and inefficient.
Is there a chance Syria will create crypto regulations soon?
It’s unlikely without external pressure. Syria’s government is focused on basic reconstruction-power, water, food. Crypto regulation is low priority. International exchanges won’t enter until regulations exist, creating a deadlock. The U.S. has said sanctions relief depends on Syria’s progress, but hasn’t tied crypto rules to that progress.
How many Syrians are using crypto?
Chainalysis estimates about 1.2 million Syrians-roughly 6% of the population-have used cryptocurrency since July 2025. Most use it for remittances and buying goods from abroad. Exact numbers are hard to track because Syria lacks reliable data collection systems.
What’s the biggest risk for Syrians using crypto?
The biggest risk isn’t the technology-it’s the lack of legal protection. If your account is frozen, you have no recourse. If you send crypto to the wrong person, you can’t get it back. And if sanctions return, your assets could be seized. There’s no consumer protection, no insurance, no government backup.
