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Syria proposes legalizing Bitcoin to rebuild war-ravaged economy

Syria’s transitional government is considering a proposal to legalize Bitcoin and digitize the Syrian pound as part of its efforts to revive the shattered economy and attract international investment. The move comes with the backing of the Syrian Center for Economic Research (SCER), which has developed a multi-pronged plan that includes legalizing Bitcoin trading, regulating mining, and using it in financial transactions. The center also proposes digitizing the Syrian pound using blockchain technology and stabilizing its value with the support of assets such as gold, the US dollar, and Bitcoin.