In a shocking attempt to combat the worsening economic crisis, the Syrian government is poised to legalize Bitcoin and other digital currencies. According to the Syrian Economics Research Center (SERC), digital currencies can potentially stabilize the economy, control inflation and attract much-needed global investment.
Nearly two decades of conflict and financial devastation have severely damaged the Syrian economy. The gross domestic product has collapsed by over 60% and even the value of the Syrian pound has fallen sharply. Few Syrians can rely on banks to keep their money again, and current rampant inflation is even invalidating savings accounts. Now SERC…
