#news_update Syria Mulls Legalizing Bitcoin to Ensure Market Freedom and Rebuild Economy.

The Syrian Center for Economic Research (SCER), a non-governmental think-tank, is considering legalising Bitcoin to recover its beleaguered economy.

Per the World Bank, the Syrian economy has shrunk by over 60% since 2010, and the Syrian pound has crashed. Further, the country has been slowly picking up after the collapse of the Assad regime.

As a result, to ensure market freedom, the nation has sought innovative solutions to accelerate deconstruction. The SCER has proposed a Bitcoin policy bill urging the transitional government to adopt Bitcoin as a legal tender to revive its economy and attract international investments.

The think tank posted the bill on its Telegram page on Tuesday, outlining the proposal for “building a digital economy.”

“[It would] facilitate e-commerce and remittances, relying on the Bitcoin network and its technologies, as well as other digital asset networks.”